Question

A city has a population of 340,000 people. Suppose that each year the population grows by 4.5%. What will the population be after 9 years?

Answer 1

Answer: 505,272

Explanation:

Use the formula of Exponential growth:

`P=P_0(1+r)^t`

Where
`P_0` is the initial poblation, r is the growth rate and t is the time in years.

Then, you know that:

`P_0=340,000\\\\r=(4.5)/(100)=0.045\\\\t=9`

Substitute these values into the formula
`P=P_0(1+r)^t`. Therefore, you get that the population after 9 years is:

`P=340,000(1+0.045)^9\\P=505,272.34`

Rounded to the nearest whole number:

`P=505,272`