Question

The current population of Nashville is 690,000 people and it's growing at a rate of 2.3% per year. If it continues at this rate, what will the population of Nashville be in 18 years?

Answer 1

The population of Nashville is expected to grow to approximately 1,028,684 in 18 years, given a constant annual growth rate of 2.3%.

Step-by-step explanation:

The question pertains to calculating the future population of Nashville, assuming a constant growth rate of 2.3% per year. We use the formula for exponential growth, which is 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, P_0 is 690,000, r is 0.023 (2.3% expressed as a decimal), and t is 18 years.

Let's calculate the expected population:

1. 
   
3. Convert the percentage growth rate to a decimal: 2.3% = 0.023.
4. 
   
6. Apply the growth rate to the population formula: P(18) = 690,000 × (1 + 0.023)^18.
7. 
   
9. Calculate the result: P(18) ≈ 690,000 × (1.023)^18 ≈ 690,000 × 1.490847.
10. 
    
12. Final calculation P(18) ≈ 1,028,684.33, which we can round to 1,028,684.

Therefore, if the population growth rate remains at 2.3%, in 18 years, the population of Nashville is expected to be approximately 1,028,684 people.