Answer
(a.) $15,000$.
(b.) $0.04$ and $1.04$.
(c.) $1.04^1$.
(d.) $15,000\cdot 1.04^x$.
(e.) $39988$.
Work Step by Step
(a.) The initial amount $a$ is $15,000$.
(b.) Growth factor $b$ is $1+0.04=1.04$.
(c.) Number of students after one year $=15,000\cdot 1.04^1$
(d.) The equation is $y=15,000\cdot 1.04^x$
(e.) Substitute $x=25$ into the equation in part (d.).
$\Rightarrow y=15,000\cdot 1.04^{25} $
Simplify.
$\Rightarrow y=39988 $.
