Answer:
Step-by-step explanation:
Initial population of people living in the island is 20,000
P = 20,000
It was compounded annually. This means that it was compounded once in a year. So
n = 1
The rate at which the population was compounded is 5%. So
r = 5/100 = 0.05
It was compounded for 5 years. So
t = 1
the exponential growth function is expressed as
A = P(1+r/n)^nt
A = total population in the island at the end of t years. Therefore
A = 20000 (1+0.05/1)^1×5
A = 20000×1.2762815625
A = 25525.63125
The number of inhabitants that the island will have after 5 years is approximately 25526 people
