Question

helpppp! The population of a town is 20,000 people in the year 2000. How many people with live in the town in 2016 if the population increases at a rate of 6% every 2 years? Round your answer to the nearest whole number.

Answer 1

31877 people with live in the town in 2016 if the population increases at a rate of 6% every 2 years

Explanation:

The formula used will be

A(t) = P(1+r)^t

A(t) = Future value

P = population

r = rate

t = time

P= 20,000

r =6% or 0.06

t = 16

Since population is increased every 2 years, so t = 16/2 = 8

Putting value:

A(16) = 20,000(1+0.06)^8

A(16)= 20,000(1.06)^8

A(16) = 31876.9 ≈ 31877

So, 31877 people with live in the town in 2016 if the population increases at a rate of 6% every 2 years