Question

The population of a town is 8600 and is growing 3% a year. What will the population be after 3 years

Answer 1

Multiply 8600 by .03 and add the number to 8600, do this 3 times and you will get the final population after 3 years

Answer 2

The formula for this question is P(n) = P*(1+r)^n

So the initial population is 8600 or P, and n can be the number of years. r is the rate it grows, 3% or 0.03.

Plug in these values
P = 8600
r = 0.03
n = 3

into P(n) = P*(1+r)^n