Step 1. Calculate the growth rate. Step 2. Calculate the population number in 2014.
We will use the formula for exponential growth: A = P * eⁿˣ where: A - the final amount (value) P - the initial amount (value) e - the mathematical constant (e ≈ 2.72) n - the growth rate x - the time
Step 1: A = 120 million = 120 000 000 P = 114 million = 114 000 000 n = ? x = 1997 - 1991 = 6 Therefore: Logarithm both sides of the equation:
Step 2: Now when we know the growth rate, it is easy to estimate the population in 2014 A = ? P = 120 000 000 n = 0.0083 t = 2014 - 1997 = 17 Thus, the population will be 138 million in 2014