A population starts at 19300, and grows at a continuous rate of $4.9 \%$ per year.
a) Find a formula for $P(t)$, the population after $t$ years.
$P(t) =$

b) What is the effective annual growth rate of the population?
percent

c) Why is this larger than $4.9 \%$?

A. We are compounding many, many more times than once per year
B. We started with a larger initial population
C. $4.9 \%$ doesn't appear in our calculation
D. We are actually using a larger nominal rate

Hint: