Question

a country's population in 1994 was 195 million. in 2002 it was 199 million. Estimate the population in 2016 using the exponential growth formula. Round your answer to the nearest million.

Answer 1

206 its right just no decimal

Answer 2

The population in 2016 is likely to be 206.20 million.

Given:
Let the population in 1994 be P₀ and g be the exponential growth.
Let the population Pn in nth will be denoted by Pn = P₀ * (1+g)n.

The population in 1994 was 195 million and after 8 years it became 199 million in 2002.

So,
199 = 195 * (1+g)₈ = 199195
Using log,
=8 * log(1+g) = log199 - log195 = 0.0088185
=log(1+g) = 0.0011022
=1 + g = 1.002541
g = 0.00254

Therefore the growth rate is 0.2541%

The population in 2016 is computed by:

= 195 * (1+g)₂₂ or 195 * 1.002541₂₂
= 195 * 1.0574279
= 206.20 million