Question

The towns of Franklin and Chester each decided in the same year to begin posting their populations on signs by the main entrances into the towns. Each year, they update the signs. Franklin had a population of 20,000 people in the first year that they posted the sign, and each year, the population increases by approximately 5%. Chester had a population of 25,000 people in the first year that they posted the sign, and each year, the population increases by 500 people. In which year will Franklin's population first exceed Chester's population?

Answer 1

Franklin's population exceeds that of Chester during the 9th year.

Explanation:

An increase of 5% is calculated as multiplying the original number by 1.05

Year Franklin Chester

1 20,000 25,000

2 21,000 25,500

3 22,050 26,000

4 23,152 26,500

5 24,310 27,000

6 25,526 27,500

7 26,802 28,000

8 28,142 28,500

9 29549 29,000

Franklin's population exceeds that of Chester during the 9th year.