Question

P1.Suppose that the US population is growing by 0.94% each year and continues to grow at this rate everyyear.a. What is the overall growth factor for 30 years of population growth? (Round to 4 decimalplaces.) By what overall percentage will the US population grow over the next 30 years? (Roundto 2 decimal places.)

Answer 1

Below

Explanation:

.94 % is .0094 in decimal

this exponential growth is like a bank account compounded yearly

factor = ( 1+.0094)^30 = 1.3240

which would represent 32.40% growth