Question

One estimate of the population of the world on January 1, 2005, is 6,486,915,022. The population is estimated to be increasing at the rate of 1.4 percent per year. At this rate, what will the population of the world be on January 1, 2024? Round your answer to the nearest whole number. ...?

Answer 1

The answer is 8,465,424,104.

We will use the formula:
A = P * eⁿˣ
where:
A - the final value
P - the initial value
e - the mathematical constant (e ≈ 2.72)
n - the growth rate
x - the time

We have:
A = ?
P = 6,486,915,022
n = 1.4% = 1.4/100 = 0.014
x = 2024 - 2005 = 19

Hence:

`A=6,486,915,022* e^(0.014*19) \\ A=6,486,915,022* e^(0.266) \\ A=6,486,915,022* 1.305 \\ A = 8,465,424,104`