a)
[tex] P(t) = 19100. e^{0.06t} [/tex]
b) P(8) =30866
Use formula:
[tex] P(t) = P. e^{rt} [/tex]
a)
Here, P = 19100
r = 6% = 0.06
[tex] P(t) = 19100. e^{0.06t} [/tex]
b) t = 2008 - 2000 = 8
[tex] P(8) = 19100. e^{0.06\times 8} [/tex]
[tex] P(8) = 19100. e^{0.48} [/tex]
[tex] P(8) = 19100\times 1.616\\\\
P(8) = 30,865.6\\\\P(8) \approx 30,866[/tex]