The population of the town after a certain number of years, with an initial population of 54,000 growing at a rate of 3.5% per year, can be calculated using the formula P(t) = 54,000 * (1 + 0.035)^t, where t represents the number of years.
To calculate the population of the town after a certain number of years with an initial population of 54,000 growing at a rate of 3.5% per year, we use the exponential growth formula:
P(t) = P0 * (1 + r)^t
where:
P(t) is the population after t years,
P0 is the initial population (54,000),
r is the growth rate (3.5% or 0.035 as a decimal),
t is the number of years.
Let's say we want to find the population after n years. Plugging in the values:
P(n) = 54,000 * (1 + 0.035)^n
This formula calculates the population after n years of growth. If, for instance, n = 10 years:
P(10) = 54,000 * (1 + 0.035)^10 ≈ 54,000 * 1.415 ≈ 76,410
Therefore, after 10 years, the population would be approximately 76,410.
Complete question should be:
What is the population of the town after a certain number of years if it initially had 54,000 people and is growing at a rate of 3.5% per year?