Question

City A grows by 5% every year. In 2021, it has a population of 145,201. What will the population be in 2037?

Answer 1

Initial population=145,201

Total years=2037-2001=36

$\\ \sf\longmapsto S=P\left(1+\dfrac{r}{100}\right)^t$

$\\ \sf\longmapsto S=145201\left(1+\dfrac{5}{100}\right)^{36}$

$\\ \sf\longmapsto S=145201\left(\dfrac{105}{100}\right)^{36}$

$\\ \sf\longmapsto S=145201(1.05)^{16}$

$\\ \sf\longmapsto S=145201(2.18)$

$\\ \sf\longmapsto S\approx 316955$

Done

Answer 2

Answer:

About 316,955 people

Step-by-step explanation:

The population of this city can be modeled with the formula $P=I\cdot(1.05^t)$, where P represents the current population, I represents the initial population, and t represents the amount of time in years since the start of the model. Plugging in 145,201 for I and (2037-2021)=16 for t, we get:

$P=145201\cdot(1.05)^{16}\approx145201\cdot2.18\approx 316955$