Question

If the population of a small town was 3,000 today and the anticipated growth is estimated to be 5% per year, what will the population be in 8 years to the nearest whole number? Pleasee helpp !

Answer 1

The population will be 4200

Answer 2

4432

Explanation:

Population growth is generally expressed as a percentage of the current population. That means the growth is exponential, and the equation describing it will be ...

population = (initial value) × (growth factor)^t . . . . . where t is in years

where the growth factor is ...

growth factor = 1 +(growth rate)

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For the given initial value of 3000 and the growth rate of 5%, the equation is ...

population = 3000(1.05^t)

When t=8, the value is ...

population = 3000(1.05^8) ≈ 3000(1.477455) ≈4432.4

The population will be about 4432 in 8 years.