Question

A country's population in 1993 was 72 million,

In 1996 it was 76 million. Estimate
the population in 2003 using the exponential
growth formula. Round your answer to the
nearest million.
р- деkt
Enter the correct answer.
DONE

Answer 1

86 million

Explanation:

`F=P(1+R/100)^(n)`

Where F is future population, P is present population and n is period in years, R is rate of growth in percentage

Taking period between 1993 to 1996 as 3 years, we can get the rate of population growth rate

`76=72(1+R/100)^(3)`

`(1+R/100)^(3)=\frac {76}{72}=1.055555556`

Getting cube root of both RHS and LHS

1+R/100=1.018185791

R/100=0.018185791

R=1.818579071%

Between 1993 and 2003 is 10 years hence n=10

`F=72(1+0.018185791)^(10)=86.21896714  million`

F= 86 million