Question

The population of a town is increasing by 4.7% each year. If the town has 21,802 people now, how many people will it have in 7 years?

Answer 1

1, 104, 539, 727 people.

Explanation:

This will be an exponential function.

The equation for such is
`f(x) = a(b)^(x)`.

a = initial value, in this case, 21,802.

b = multiplier, in this case, 4.7.

x = time, in this case, 7.

1. Insert your variables:

`f(x) = 21,802(4.70)^(7)`

2. Solve parenthesis.

`4.7^(7) = 50,662.312`

`f(x) = 21,802(50,662.312)`

3. Solve.

`(21,802)(50,662.312) = 1,104,539,727.23`

You would round you answer off, since you can't have 23% of a person, and your answer would be 1, 104, 539, 727 people.

Answer 2

Explanation:

21,802 × 1.047⁷ ≈ 30,069