Question

Suppose a city with population 500,000 has been growing at a rate of 2​% per year. If this rate​ continues, find the population of this city in 25 years

Answer 1

`\qquad \textit{Amount for Exponential Growth} \\\\ A=P(1 + r)^t\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{initial amount}\dotfill &500000\\ r=rate\to 2\%\to (2)/(100)\dotfill &0.02\\ t=\textit{elapsed time}\dotfill &25\\ \end{cases} \\\\\\ A = 500000(1 + 0.02)^(25) \implies A=500000(1.02)^(25)\implies A \approx 820303`