Question

The population of a a city increases by 0.5% per year if this years population 201,000 what will next year’s population be to the nearest individual

Answer 1

`\qquad \textit{Amount for Exponential Growth} \\\\ A=P(1 + r)^t\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{initial amount}\dotfill &201000\\ r=rate\to 0.5\%\to (0.5)/(100)\dotfill &0.005\\ t=\textit{elapsed time}\dotfill &1\\ \end{cases} \\\\\\ A=201000(1 + 0.005)^(1)\implies A=201000(1.005)\implies A=202005`