Question

A town has a population of 72,700 and grows at a rate of 3.5% every year. Which equation represents the town’s population after 4 years?

Answer 1

P=72,700(1+0.035)(1+0.035)(1+0.035)(1+0.035)

Explanation:

Answer 2

for 4 years:
`72,700 + 1.035^4(72,700)`

For n years:
`72,700 + 1.035^n(72,700)`

Explanation:

Since each year the growth rate is 3.5 of the last year, n will represent the number of years.

`72,700 + 1.035^n(72,700)`

Therefore since n is 4, the equation will be:

`72,700 + 1.035^4(72,700) =72,700 + 1.15(72,700)`

Therefore this equation represents the town after four years.