Question

A city is growing at the rate of 0.4% annually. If there were 2,918,000 residents in the city in 1995, find how many (to the nearest ten-thousand) are living in that city in 2000.

Answer 1

To find the population of the city in 2000, we can use the formula for exponential growth: P(t) = P(0) * (1 + r)^t. In this case, the initial population in 1995 is 2,918,000, and the growth rate is 0.4%. The population in 2000 is approximately 2,980,000 people.

Step-by-step explanation:

To find the population of the city in 2000, we can use the formula for exponential growth: P(t) = P(0) * (1 + r)^t, where P(t) is the population at time t, P(0) is the initial population, r is the growth rate, and t is the time in years. In this case, the initial population in 1995 is 2,918,000, and the growth rate is 0.4%. So the formula becomes:

P(2000) = 2,918,000 * (1 + 0.004)^5

Calculating this, we get:

P(2000) ≈ 2,918,000 * 1.0202 ≈ 2,977,717

To the nearest ten-thousand, approximately 2,980,000 people are living in the city in 2000.