Question

Calculate the population growth of Happy Town in 5 years using the exponential formula: = a(1 + r). The current population of the town is 40,000. The growth rate is 10% The time is 5 years.

Answer 1

64,420.4

Step-by-step explanation:

In the following exponential formula:

`a\cdot(1+r)^t^{}`

a represents the initial value, r represents the growth rate and t represents the number of years.

So, if the current population is 40,000, the growth rate is 10% and the time is 5 year, we can calculate the population growth as:

`\begin{gathered} 40000\cdot(1+0.1)^5 \\ 40000\cdot(1.1)^5 \\ 40000\cdot(1.61) \\ 64,420.4 \end{gathered}`

Therefore, the answer is 64,420.4