Answer:
To estimate the number of students enrolled 4 years from now, we can use the formula for compound interest, as the student population is expected to grow at a rate of 1.3% annually.
The formula for compound interest is:
A = P(1 + r)^n
Where:
A is the final amount (number of students enrolled after n years)
P is the initial amount (current number of students)
r is the growth rate (expressed as a decimal)
n is the number of years
In this case, we have:
P = 1500 (current number of students)
r = 0.013 (1.3% expressed as a decimal)
n = 4 (number of years from now)
Substituting these values into the formula, we get:
A = 1500(1 + 0.013)^4
Calculating this expression, we find:
A ≈ 1500(1.013)^4 ≈ 1630.9
Therefore, the estimated number of students enrolled 4 years from now is approximately 1631.
Please note that this is an estimation based on the assumption of a constant growth rate. Actual enrollment numbers may vary depending on various factors.
Explanation: