Question

The population of a state increases by 8% every five years. The current population is 7,250,000. Using this data, what is

Answer 1

The population after 15 years will be 9,133,000 people.

Further explanation:

The formula for population growth is given by:

$P_n = P_0(1+r)^n$

Here,

P_n is the population to be calculated

P_0 is the initial population

r is the growth rate

and

n is the number of time periods.

As the population increases every 5 years,

So,

n = 15/5 = 3 time periods.

P_0 = 7250000

r = 8%

Putting the values in the formula

$P_n = 7250000*(1+0.08)^3\\= 7250000* (1.08)^3\\= 9132912\ people$

The population can be rounded off to nearest thousand as 9133000 people.

Keywords: Population growth, prediction of population

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