Question

The population of a city is increasing at a rate of 3% per year. If the population is 100,000 today, what will it be in 3 years

Answer 1

Answer: There will be roughly 109,273 people in three years.

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Work Shown:

P = initial population = 100,000

r = growth rate = 3% = 0.03

t = number of years = 3

Use the formula below to plug in the values and compute

A = P*(1+r)^t

A = 100,000*(1+0.03)^3

A = 100,000*(1.03)^3

A = 100,000*1.092727

A = 109,272.7

A = 109,273 <<-- rounding to the nearest whole number