Question

A new fitness center had 350members in its first year. Thenumber of members increased by14% each year thereafter. Findthe approximate number ofmembers after 8 years.

Answer 1

Apply the population growth formula:

A = P (1+r)^t

Where:

P = initial population

t= years

r= increase rate in decimal form (percentage divided by 100)

A = population after t years

Replacing:

A = 350 (1+14/100)^8 = 350 ( 1.14)^8 = 998 members