The population of a small coastal resort town, currently 3400, grows at a rate of 3% per year. This growth can be expressed by the exponential equation
where P is the population after t years. Find the number of years it will take for the population to reach 10,000?
36 years
26 years
20 years
30 years
Karla invested $1000 in savings bonds. If the bonds earn 6.75% interest compounded semi-annually, how much total will Karla earn in 15 years?