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A company pays 8% commission on sales of $8,000.00 or less. 10% on sales from $8,000 to
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18.273 years will take to reach the population of 7500, if a town has a population of 4000 and grows at 3.5% every year.
Step-by-step explanation:
The given is,
Population of 4000
Rate of grow 3.5% every year
Population after few years 7500
Step:1
Formula to calculate the population with the grow rate every year,
..........................(1)
Where,
F - Population after t years
P - Initial population
r - Rate of grow
t - No.of years
From given,
F = 7500
P = 4000
r = 3.5%
Equation becomes (1),
1.875 =
Take log on both sides,
Substitute log values,
= 18.273
t = 18.273 year
or
t = 18 years 3 months 2 weeks
Result:
18.273 years will take to reach the population of 7500, if a town has a population of 4000 and grows at 3.5% every year.