Question

A country's population and the growth rate in 2011 are given below. Use this information and an exponential growth rate model to estimate the country's population in the specified year. population= 149 million; growth rate= 1.521 percentyear, 2019the size of the population in 2019 will be about _____ million.

Answer 1

To solve this problem, we could use the following model

`p(t)=p_0(1+r)^t`

Where p0 represents our population in millions, r represents the growth rate, and t represents the amount of years after 2011( 2011 is t = 0).

We have all of our values

`\begin{gathered} p_0=149 \\ r=0.01521 \\ t=2019-2011=8 \end{gathered}`

Plugging those values in our model, we have

`p(8)=149(1+0.01521)^8=168.125413042\ldots\approx168.13`

Then, the size of the population in 2019 will be about 168.13 million.