Question

A city has a population of 240000 people. Suppose that each year the population grows by 5%. What will the population be after 8 years?

Answer 1

240000 * 1.05^8 = 354589

Answer 2

354,589 people.

Explanation:

Each year the population is 105% times the previous year.

105% = 1.05.

so in 8 years population will be:

240000*(1.05)^8

= 354,589.