Tuition at a state college was 4,000 in 2014, and is expected to grow at a rate of 7% each year. Write ab exponetial growth model for the expexted tutuon t yesrs after 2014

Step-by-step explanation:

We would apply the formula for exponential growth which is expressed as

y = b (1 + r) ^t

Where

y represents the value of the tuition fee after t years.

x represents the number of years.

b represents the initial value of the tuition fee.

r represents rate of growth.

From the information given,

P = 4000

r = 7% = 7/100 = 0.07

Therefore, the exponential function for the expected tuition t years after 2014 is

y = 4000 (1 + 0.07) ^t

y = 4000 (1.07) ^t