If the lease factor is given as 0.0023, what interest rate is that equivalent to?
1 answer:
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Answer:
227750
Step-by-step explanation:
If we assume that the rate of increase in population is linear, then in 4 years the increase in population is (224000 - 221000) = 3000.
So, the rate of increase in population is persons per year.
Now, we have to calculate the population of the town after an additional 5 years.
So, the population in 5 years will increase by (750 × 5) = 3750
Therefore, the population after an additional 5 years will be (224000 + 3750) = 227750. (Answer)