Answer:
546,397 people
Step-by-step explanation:
We solve for the above question, using the formula for Exponential growth
The formula is given as
P(t) = Po (1 + r)^t
Po = Initial population = 310,000
r = Exponential growth rate = 6.5% = 0.065
t = Time in years = 9
P(t) = Population size after time t
Hence:
P(t) = 310,000 × (1 + 0.065)⁹
P(t) = 546,396.82088 people
Approximately =546,397 people
The population will be 546,397 people after 9 years.
Number 5 is c, number 6 is 'a'
After 6 years the investment is $5555.88
Step-by-step explanation:
A principal of $3600 is invested at 7.5% interest, compounded annually. How much will the investment be worth after 6 years?
The formula used to find future value is:

where A(t) = Accumulated amount
P = Principal Amount
r = annual rate
t= time
n= compounding periods per year
We are given:
P = $3600
r = 7.5 %
t = 6
n = 1
Putting values in formula:

So, After 6 years the investment is $5555.88
Keywords: Compound Interest formula
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