Question

The most recent census for a city indicated that there were 919,716 residents. The population of the city is expected to increase at an annual rate of 3.7 percent each year for the next 13 years. What will the population be at that time

Answer 1

Answer:

1,474,951.

Step-by-step explanation:

Given a population that increases by a constant percentage, we can model the population's growth using the exponential model.

$P(t)=P_o(1+r)^t, where \left\{\begin{array}{lll}P_o= Initial Population\\r =Growth rate\\ t=time (in years)\end{array}\right\\P_o=919,716\\r=3.7\%=0.037\\ t=13 years$

Therefore, the population of the city in 13 years time will be:

$P(t)=919,716(1+0.037)^{13}\\\\=919,716(1.037)^{13}\\\\=1,474,950.9\\\\\approx 1,474,951$

The population be at that time will be approximately 1,474,951.