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Vlada [557]
3 years ago
11

a town has a population of 14000 and grows at 4.5% each year. to the nearest tenth of a year how long will it be until the popul

ation will reach 41500
Mathematics
1 answer:
denis-greek [22]3 years ago
6 0

Answer:

about 6.6 years

Step-by-step explanation:

41,500=14,000*.45*x

41,500=6,300*x

41,000/6,300=x

6.5873=x

6.6=x

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Alright, so in order to solve this problem, you need to know the formula for compound interest, which is 
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A is the final amount, P is the beginning amount, r is the rate it is being compounded at, n is the number of compounds per year, and t is obviously the time or number of years

Since it is compounded monthly, n will equal 12, as there are 12 months in a year.

Plug in what you have and you get A= 100 (1 + .06/12)^(12)(20)
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