Question

A town has a population of 5000 and grows at 4% every year. What will be the population after 7 years, to the nearest whole number?

Answer 1

Equation:5000(1+0.04)^7
Answer: approximately 6579.65 or 6580

Answer 2

Answer: the population after 7 years is 6580

Step-by-step explanation:

The growth rate is exponential. We would apply the formula for exponential growth which is expressed as

y = b(1 + r)^ t

Where

y represents the population after t years.

t represents the number of years.

b represents the initial population.

r represents rate of growth.

From the information given,

b = 5000

r = 4% = 4/100 = 0.04

t = 7 years

Therefore

y = 5000(1 + 0.04)^7

y = 5000(1.04)^7

y = 6580