Final answer:
To find the projected world population in 1995 from 1987 with an annual growth rate of 2 percent, we apply the exponential growth formula and calculate a population of approximately 5.85 billion, rounded to two decimal places.
Step-by-step explanation:
To calculate the projected world population in 1995 given a starting population of 5 billion in 1987 with a relative growth rate of 2 percent per year, we use the formula for exponential growth: P(t) = P0 * e^(rt), where P(t) is the population at time t, P0 is the initial population, e is the base of the natural logarithm (approximately equal to 2.71828), r is the growth rate (as a decimal), and t is the time in years since the start.
Converting the growth rate to decimal form, we get r = 0.02. Since we're looking at the population 8 years after 1987 (1995 - 1987), t = 8. Plugging the values into the formula yields an equation that can be solved using a calculator: P(8) = 5 billion * e^(0.02 * 8).
After calculating, we get P(8) ≈ 5 billion * 1.171, which equals approximately 5.85 billion. Therefore, the projected world population in 1995 is estimated to be approximately 5.85 billion people, rounded to two decimal places.