Final answer:
To calculate the future population of a town with an initial population of 8,250 and a yearly growth rate of 3%, we apply the exponential growth formula, resulting in an estimated population of approximately 11,087 in 10 years.
Step-by-step explanation:
The question involves calculating the future population of a town given its current population and a constant yearly percentage growth rate.
To find the population in 10 years when the population is 8,250 and is increasing at a rate of 3% per year, we use the formula for exponential growth:
Population after n years = Current Population × (1 + growth rate)number of years
In this case:
8,250 × (1 + 0.03)10
Calculating this, we get:
8,250 × (1.03)10 ≈ 8,250 × 1.343916379
= 11,087.30
The population will be approximately 11,087 in 10 years.