Question

there are 16,775 people in the population and it grows 13% per year. how many people is there after 8 years?

Answer 1

44595

Explanation:

By the formula of compound interest

first year: 16775 * (1+0.13)

2nd year: (16775 * (1+0.13)) * (1+0.13)

.

.

8th year: 16775 * (1 + 0.13)∧8 = 44595

Answer 2

34221

Explanation:

Total people = 16,775

Percentage growth per year = 13

: 13/100 × 16775 are added every year

= 2180.75

So, in 8years total added = 8 × 2180.75

= 17446people

Total people in 8years = 16775+17446

= 34221