Question

The population of a town is 100,000 in 2014. The population increases at a rate of 4.5 percent every year. What will the population of the town be in 2020? Round you answer to the nearest whole number.

Answer 1

The population of a town is "130226" in 2010.

Explanation:

Given,

The population of a town in 2014 (P) = 100,000, the population increases at a rate (r) = 4.5 % and time (n) = 6 years

To find, the population of the town in 2010 = ?

We know that,

Amount (A) =
`P(1+(r)/(100) )^n`

`=100,000(1+(4.5)/(100) )^6`

`=100,000(1+0.045)^6`

= 100,000 × 1.3022

= 130226

∴ The population of the town in 2010 = 130226

Thus, the population of a town is "130226" in 2010.