Question

The population of a city in 2010 was 3.2 million and the relative growth rate was estimated at 2% per year.

Assuming that the city's population follows an exponential growth model, find the projected city population
in 2026.
million people
Round your answer to 3 decimal places as needed.
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Answer 1

I'm using interest: fv=p(1+.int/c)^(nt)
4.2*10^6(1+.024)^(16)
6.138306877*10^6
future value
premium
int
compound
yrs
times per yr