Question

A city has a population of 400,000 people. Suppose that each year the population grows by 6.25%. What will the population be after 15 years?

Answer 1

6.25%=0.0625

P(t) = Initial Population * (1 + rate)^t

P(t) = 400,00*(1+0.0625)^t
P(t)= 400,00*(1+0.0625)^15
Pt=400