Question

The population of a city in 2005 was 18,000. By 2010, the city’s population had grown to 45,000. If the population growth follows a exponetial model, what is the projected population for 2015?

Answer 1

First find the rate of growth
45000=18000(1+r)^(2010-2005)
Solve for r
r=((45,000÷18,000)^(1÷5)−1)×100
R=20%
Use it to find the population in 2015
P=45000(1+0.20)^(2015-2010)
P==111,974.4