Question

A city’s population is about 763,000 and is increasing at an annual rate of 1.5%. Predict the population of the city in 50 years.

Answer 1

Population will be approx 1606300.

Explanation:

Given that a city’s population is about 763,000 and is increasing at an annual rate of 1.5%. Now we need to predict the population of the city in 50 years.

We can use growth formula

`A=P\left(1+r\right)^t`

Where P=763000

rate r=1.5% = 0.015

time t = 50 years

Plug these values into above formula

`A=763000\left(1+0.015\right)^(50)`

`A=763000\left(1.015\right)^(50)`

`A=763000\left(2.10524242061\right)`

`A=1606299.96692`

Hence population will be approx 1606300.