Question

the population of a popular town of Smithville in 2003 was estimated to be 35,000 people with an annual rate increase of about 2% Estimate the population in 2007 to the nearest person .

Answer 1

initial population is P = 35000

annual rate of increment is r = 2 %

time t = 2007 - 2003 = 4 years

so the population after 4 years will be,

`A=P(1+(r)/(100))^t`
`\begin{gathered} A=35000(1+(2)/(100))^4 \\ A=35000((102)/(100)_{})^4 \end{gathered}`
`\begin{gathered} A=35000*1.02^4 \\ A=35000*1.0824 \\ A=37885 \end{gathered}`

thus, the Estimate the population in 2007 is 37885 people