Question

A population of 422,000 increases by 12% each year. What is the approximate population after 5 years?

Answer 1

Here are formulas we choose from
 Increasing: y = a (1 + r)x        Decreasing: y = a(1 - r)x

we want increasing

422000(1+.12)^5
743,708 (you don't want the decimals because you can't divide a human...)