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3 years ago

A population of size 3,624 grows at a rate of 3% per year, compounded continuously. How big will the population be in 2 years?

Mathematics

1 answer:

rodikova [14]3 years ago

8 0

Answer:

Step-by-step explanation:

The continuous compound formula is

$y=Pe^{rt$ where P is the principle or starting value, r is the growth rate in decimal form, and t is the time in years. For us:

$y=3624e^{(.03)(2)}\\y=3624e^{.06}\\y=3624(1.061836547)\\y=3848.09$

which would probably round to just 3848 people.

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From the question we are told that

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=> $P(|p-\^{p}| > 0.03) = 0.0040$

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