Question

A city has a population of 380,000 people. Suppose that each year the population grows by 6.5%. What will the population be after 10 years?
Round your answer to the nearest whole number.

Answer 1

The growth formula is:

y = a•(1+x)^(t/p)

y is the end result

a is the initial amount

x is the percent growth as a decimal

t is the total amount of time

p is how often the growth occurred

Note that t and p both need to be the same units, whether that be seconds or days or months or years etc.

So,

y = 380000 • (1.065)^(10/1)

y = 380000 • 1.87713746527

y = 713312.236802

y = 713312