Question

The population of Kings County, New York, has increased 0.53% each year, over several years. The population in 2000 was 2,465,326. What can you expect the population to be in 2015? Hint : Use the formula for population growth N = N 0 (1 + r ) t .

Answer 1

We have been given that population of Kings County, New York, has increased 0.53% each year, over several years. The population in 2000 was 2,465,326.    

Formula to find population growth: $N=N_0(1+r)^{t}$

Now we will find expected population of year 2015 by substituting t=15 in our given formula.  

$2,465,326(1+0.0053)^{15}$

$2,465,326(1.0053)^{15}$

$2,465,326\cdot 1.0825182787557597$

$2668760.45809\approx 2668760$

Therefore, expected population in year 2015 will be 2668760.