Question

Note: When solving for k, round to four decimal places.

A country's population in 1994 was 107 million. In 1997 it was 112 million. Estimate the population in 2008 using the exponential growth formula. Round your answer to the nearest million. ​

Answer 1

Answer: 132 million

Exponential growth formula:
`P=A e^(rt)`

[P is final amount, A is initial amount, r is growth rate, x is time intervals]

To find growth rate:

`112 = 107 e^(r(3))`

`3r= ln(112/107)`

`r= ln(112/107)/3 = 0.01522334561`

Population in 2008:

`P_(2008)=107 e^((0.01522334561(14)))`

`P_(2008)=132.4169522`

`P_(2008)=132\:million \quad (rounded \:to\:nearest\:million)`