Question

The population of a town increases by 3.7% per year. If this year's population is 20,600, what will next year's population be, to the nearest individual?

Answer 1

Answer: 21,362 people

Explanation:

The current population is 20,600 people and this population is to increase by 3.7% per year.

The population of the town in one year can be calculated by:

= Population * (1 + growth rate)^no. of years

= 20,600 * ( 1 + 3.7%)¹

= ‭21,362.2‬

= 21,362 people