Question

A population increases 3% each year. If the city is now 5 million, what will the population be in 5 years?

Answer 1

5 million x 3% = 150,000
1 Year = 5,150,000

5.15 million x 3% = 154,500
2 Years = 5,304,500

5,304,500 x 3% = 159,135
3 Years = 5,463,635

5,463,635 x 3% = 163,909.05
4 Years = 5,627,544.05

5,627,544.05 x 3% = 168,826.322
5 Years = 5,796,370.37

After 5 years, the population will be 5,796,370.37