Question

At the beginning of 1995, the town of Canyon Ridge had 1,700 residents. The rate of population growth after that was 6% per year. Estimate the population at the beginning of 2005.

Answer 1

The estimated population of Canyon Ridge at the beginning of 2005 is approximately 3,044 residents, using the exponential growth formula with a 6% annual growth rate over 10 years from 1995 to 2005.

Step-by-step explanation:

To estimate the population of the town of Canyon Ridge at the beginning of 2005, we will use the formula for exponential growth, where the final population is equal to the initial population times one plus the growth rate raised to the power of the number of periods. The growth rate given is 6% per year, and the number of periods is 10 years, from 1995 to 2005.

The initial population is 1,700 residents. Applying the exponential growth formula:

Final Population = Initial Population × (1 + Growth Rate)Number of Periods

Final Population = 1,700 × (1 + 0.06)10

Plug in the values and solve:

Final Population = 1,700 × (1.06)10

Final Population = 1,700 × 1.790847

Final Population ≈ 3,044.44

Therefore, the estimated population at the beginning of 2005 is approximately 3,044 residents.

Answer 2

the towns population will be 2,720 in 2005