Question

A country's population in 1995 was 142 million. In 1998 it was 148 million. Estimate the population in 2013 using the exponential growth formula. Round your answer to the nearest million

Answer 1

Let x be the annual growth rate, expressed as a decimal.

`148=142(1+x)^(3)`

`1+x= \sqrt[3]{1.04225} =1.01389`
the number of years between 1998 and 2013 is 15 years. The estimated population in 2013 is given by:

`148(1.01389)^(15)=182\ million`
The answer is 182 million.