Question

A city has a population of 250,000 people. Suppose that each year the population grows by 7.5%. What will the population be after 8years?

Answer 1

So, if it grows by 6.75%, each year the population is 106.75% of the year before.

After 1 year, 370,000(1.0675). After two years, 370,000(1.0675)(1.0675).

370,000(1.0675)12 = your answer