Question

A town has a population of 12000 and grows at 3.5% every year. What will be the population after 7 years, to the nearest whole number?

Answer 1

15,267

Explanation:

To solve this problem, lets use the exponential growth formula which is:
`A = P(1+r)^t`

A = total amount

P = original amount

r = growth rate (decimal)

t = years

Before we plug in the values, don't forget to change 3.5% to its decimal form.

3.5% ->
`(3.5)/(100)` -> 0.035

Lets plug in the values:

`A=12,000(1+0.035)^7`

`A=15,267`

The population after 7 years will be 15,267.