Answer:
The population of the town after Seven (7) years is 15267.
Step-by-step explanation:
We can use the formula of compound interest to solve this problem.
The formula is:
A = P * ( 1 + r )^t
Where A is the final amount.
P is the initial amount.
r is the annual interest rate
t is the number of years.
- We can get the annual interest rate
r = 0.035
- We can get the number of years:
t = 7
A = P * r ( 1 + r )^t to calculate the final amount.
A = 12000 * ( 1 + 0.035 )^7 = 15267.35
Add Constants:
A = 12000 * 1.035^7
Add Constants:
A = 12000 * 1.035^7
A = 15267.351153199
Population after 7 years is 15267 when rounded to the nearest whole number.
- Round the final amount to the nearest whole number:
We get the population after 7 years is 15267
The population of the town after Seven (7) years is 15267.
Hope this helps!