Question

The population of winnecumma, Nevada, is growing at a rate of 5% each year. If the population is 8742, how many years(3 decimal places) will it take before the population is 12,000?

Answer 1

Current population = P = 8742
Population after t years = A = 12000
Growth rate = r = 5%

We are to find the number of years it takes the population to grow to 12,000.

So, we can write:

$A=P(1+r)^{t}$

Using the values, we get:

$12000=8742(1+0.05)^{t} \\ \\ \frac{12000}{8742}= (1.05)^{t} \\ \\ t=6.492$

This means, it will take 6.492 years for the population to grow to 12,000.