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?

Question

asked Aug 3, 2020 67.2k views

1 Answer

Oleg Shleif · Answer 1 · 2020-08-09T22:45:14+0000

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