Question

The town's poplation in the year 2020 was 1,500 people,

The population has been increasing 3% each year.
What will the population be in the year 2025?

Answer 1

1739

Explanation:

(1+growth)^years

so

(1+.03)^5=1.159...

Multiply by 1500 = 1738.9.......