Question

Suppose a city with population 620,000 has been growing of a rate of 3% per year. If this rate continues, find the population of this city in 14 years

Answer 1

937,806

Explanation:

We solve this question in using the population growth rate formula

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

P(t) = Population after t years. = ??

Po = Initial Population = 620,000

r = Growth rate = 3% = 0.03

t = Time in years = 14

P(t) = 620000 (1 + 0.03)¹⁴

P(t) = 620000(1.03)¹⁴

P(t) = 937805.62941

Approximately P(t) = 937,806

The population of the city in 14 years is 937,806