Question

Use the exponential growth/decay formula a. b* to solve each equation.

24. The population of Bayside, CA increased from 23,560 in 1990. The annual rate of
population increase for the next 20 years was about 6%. Predict the population of Bayside in
2010.

Answer 1

the population in 2010 is 75,656.33

Explanation:

Given that

The increase in population in the year 1990 is 23,560

The Annual rate of interest is 6%

And, the time period is 20 years

We need to find out the population in 2010

So, the following formula should be used

= Population × (1 + rate)^time period

= 23,590 × (1 + 0.06)20

= 23,590 × 1.06^20

= 75,656.33

hence, the population in 2010 is 75,656.33