53.6k views
3 votes
The population of a city has been increasing by 2% annually. In 2000, the population was 315,000. Predict the population of the city in 2020. Round your answer to the nearest thousand.​

User Olu
by
7.7k points

1 Answer

4 votes

Answer:

In 2020 there will be 468,073 people.

Explanation:

Giving the following information:

Growth rate (g)= 2% = 0.02

Population 2,000= 315,000

Number of periods (n)= 20 years

To calculate the population in 2020, we need to use the following formula:

FV= PV*(1+g)^n

FV= 315,000*(1.02^20)

FV= 468,073

In 2020 there will be 468,073 people.

User Barwin
by
7.8k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.