Suppose a city with population 400,000 has been growing at a rate of 8% per year. If this rate continues, find the population of this city in 16 years. The population in 16 year will be approximately...?
1 answer:
Answer:
1,370,377
Step-by-step explanation:
the formula to be used is :
FV = P (1 + r) n
FV = Future value
P = Present value
R = interest rate
N = number of years
400,000 x (1.08)^16 = 1,370,377
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