Question

Suppose a city with population 300,000 has been growing at a rate of ​6% per year. If this rate​ continues, find the population of this city in years.

Answer 1

Results are below.

Explanation:

Giving the following information:

Current population (PV)= 300,000

Increase rate (g)= 6% per year

To calculate the population after "n" years, we need to use the following formula:

FV= PV*(1 + g)^n

For example, after 10 years:

FV= 300,000*(1.06^10)

FV= 537,254