Question

The population of a town was 736 in 1970. The population has been growing at a rate of 11% each year. What is the population of the town in the year 1995? Round your answer to the nearest whole number.

A) 2,279
B) 2,827
C) 2,831
D) 2,832

Answer 1

Option D). The population of the town in 1995 is approximately 2,832.

Step-by-step explanation:

To find the population of the town in 1995, we can use the formula A = P(1+r)^n, where A is the final population, P is the initial population, r is the growth rate, and n is the number of years. In this given case, P = 736, r = 11% = 0.11, and n = 1995 - 1970 = 25.

Substituting these values into the above given formula, we get A = 736(1+0.11)^25. Calculating this, we find that the population of the town in 1995 is approximately 2,832. Therefore, the correct answer is D) 2,832.