Question

In 2015, the population of a town was 8914. The population is expected to grow at a rate of 1.36% each year.

At this rate, what would be the population in 2040?


Round the the nearest whole number.

Answer 1

Answer: 12495

Explanation:

Given: The population of a town in 2015 = 8914

The growth rate of population per year = 1.36%

The exponential growth function is given by:_

`y=A(1+r)^x`, where A is the initial amount and r is the rate of growth of amount in x years.

Consider 2015 as the initial year, then for 2040, x=25 [2040-2015]

A=8914

r=1.36%=0.0136

Now, At this rate, the population in 2040 will be given by :-

`y=8914(1+0.0136)^(25)\\\\\Rightarrow  y=8914(1.0136)^(25)\\\\\Rightarrow  y=12495.0407445\approx12495`