Question

According to the 2014 national population projections published by the U.S. Census Bureau, the U.S. population is projected to be 334.4 million in 2020 with an estimated growth rate of 0.79% per year. Assuming the growth rate remains constant, find the projected population in 2050.

Answer 1

423,437,744

Explanation:

Given that :

Projected population in 2020 = 334.4 million

Estimated growth rate (r) = 0.79%

Projected population in 2050 ;

Using the exponential growth function :

Estimated value = initial value(1 + growth rate)^time

Initial value = i

Time = 2020 - 2014 = 6 years

334.4 = i(1 + 0.0079)^6

334.4 = i(1.0079)^6

334.4 = i2.43087455521E−13

i = 3.189786E8

Initial population = 318. 978 million

Estimated Population in 2050:

2050 - 2014 = 36

Projected population = 3.189786E8(1.0079)^36

Projected population = 3.189786E8*1.3274801

= 423437743.82586

= 423437744 million