Question

A town has a population of 14000 and grows at 3% every year. What will be the population after 6 years, to the nearest whole number?

Answer 1

This problem resembles one of a compound interest type, in which we would use the following formula:

$M = C . (1 + j)^{n}$

Where:

C is the initial amount

j is the interest rate

n is the number of periods

M is the final amount

Using this same formula to solve our problem, we have:

C is the initial population

j is the annual growth rate

n is the number of years

M is the final population

OK. Let's do it...

C = 14000

j = 3% = 3/100 = 0.03

n = 6

M = ?

Making the due substitutions and performing the calculations:

M = C . $(1 + j)^{n}$

M = 14000 . $(1 + .03)^{6}$

M = 14000 . $(1 .03)^{6}$

M = 14000 . 1.19

M = 16,716.7

Response: 16,717

:-)

Answer 2

Pretty sure (don't get mad if this is wrong) it's 16,700 jhsksk