Question

The population of the world in 1987 was 5 billion and the annual growth rate was estimated at 2 percent per year.

Assuming that the world population follows an exponential growth model, find the projected world population in 1999.

Answer 1

6,341,208,973

Explanation:

f(x) = a(1 + r)^x

1999 - 1987 = 12

For 199, x = 12.

a = 5,000,000,000

r = 2% = 0.02

f(12) = 5,000,000,000(1 + 0.02)^12

f(12) = 6,341,208,973