Question

The population of a city is 310​,000 and is increasing at a rate of 4.5​% each year. Approximately when will the population reach 620​,000? ​ (Use a compound growth​ model.)

Answer 1

Approximately after 15 years the population will reach 620,000

Step-by-step explanation:

Population at start : 310,000

Rate by which the population is increasing: 4.5%

Population after n years is calculated under the next equation:

P=Po(1+r)∧n

620,000=310,000(1+ 0.045)∧n

2= (1+ 0.045)∧n

log(2)=nlog (1+ 0.045)

log(2)=nlog (1.045)

log(2)/log(1.045)=n

n= 15