According to the CIA's World Fact Book, in \(2010,\) the population of the
United States was approximately 310 million with a \(0.97 \%\) annual growth
rate. (Source:
www.cia.gov) At this rate, the population \(P(t)\) (in millions) can be
approximated by \(P(t)=310(1.0097)^{t}\), where \(t\) is the time in years since
2010 .
a. Is the graph of \(P\) an increasing or decreasing exponential function?
b. Evaluate \(P(0)\) and interpret its meaning in the context of this problem.
c. Evaluate \(P(10)\) and interpret its meaning in the context of this problem.
Round the population value to the nearest million.
d. Evaluate \(P(20)\) and \(P(30)\).
e. Evaluate \(P(200)\) and use this result to determine if it is reasonable to
expect this model to continue indefinitely.