(M) Integrated Math 1 B (IS895) \#90179 | Mastery Assess It-1 Due: Tomorrow 13. The population of a small town can be modeled by the equation \( f(t)=4800(1.02)^{t} \), where t is the number of years since the collection of the population data began. Which statement is true? The population was 4800 when the collection of population data began. The population will reach a maximum of 4800 people. The population grew by 102 people each year since the collection of population data began. The population grows at a rate of \( 102 \% \) each year.
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The correct statement is that "The population was 4800 when the collection of population data began." This is because when \( t = 0 \) in the equation \( f(t) = 4800(1.02)^{t} \), the calculation simplifies to \( f(0) = 4800(1.02)^{0} = 4800 \times 1 = 4800 \). So, the initial population at time \( t = 0 \) is indeed 4800. As for the growth of the population, it's important to clarify that the rate of growth in this equation is 2% each year, not 102%. The exponential factor \( (1.02)^{t} \) indicates a compound growth rate of 2%, meaning the population grows by 2% of its current size each year.
