The population of a town grows at 10% per year. How long will it take for the population to triple?
Step-by-step Solution:
This is a problem of exponential growth. Based on the format of the answer choices, it is implied that we should use the model for continuous growth.
1. State the formula for continuous growth:
The formula is \(P(t) = P_0 e^{rt}\), where:
- \(P(t)\) is the population after time \(t\).
- \(P_0\) is the initial population.
- \(r\) is the annual growth rate.
- \(t\) is the time in years.
2. Set up the equation based on the problem:
We are given the growth rate \(r = 10\% = 0.1\).
We want to find the time \(t\) for the population to triple, which means \(P(t) = 3P_0\).
Substituting these values into the formula:
\[3P_0 = P_0 e^{0.1t}\]
3. Solve for the time (t):
First, we can simplify the equation by dividing both sides by the initial population, \(P_0\):
\[3 = e^{0.1t}\]
To solve for the exponent \(t\), we take the natural logarithm (represented as 'log' in the options) of both sides:
\[\log(3) = \log(e^{0.1t})\]
Using the logarithm property that \(\log(e^x) = x\), the equation simplifies to:
\[\log(3) = 0.1t\]
Finally, we isolate \(t\) by dividing both sides by 0.1:
\[t = \frac{\log(3)}{0.1}\]\[t = 10 \log(3)\]
Result:
It will take \(10 \log(3)\) years for the population to triple.