Question

The population of Mexico has been increasing at an annual rate of 1.7%. If the population was 100,350,000 in the year 2000, predict its population in 2015. Round to the nearest whole number

Answer 1

We can withdraw a equation to give mexico population

P = M.(1 + i)^t

So,

First of all, how many years passed? 2015 - 2000 = 15. Our time is 15, our annual rate is 1,7%, time to calc.

P = 100350000.(1 + 1,7%)^15

1,7% = 0,017

P = 100350000.(1 + 0,017)^15

P = 100350000.(1,017)^15

P = 100350000.1,2876988084901218382866596204289

P = 129220575,43198372647206629291004

Rounding

P = 129,220,575

Answer 2

pt = Po(1 + rt)

p = 100,350,000

r - 1.7 %/ 100% = 0.017 = annual % increase expressed as a decimal form

t = 2015 - 2000 = 15 years

rt = 0.017/ year * 15 years = 0.255

so you will write out an equation format

p=100,350,00 * (1 + 0.017)^(15)

P=129,220,575.43 (solution) <--answer