Question

In 2018, the number of students at The Villages High School was 975 and is increasing at a rate of 2.5% per year. Write and use an exponential growth function to project the populating in 2025. Round to the nearest whole number. *

Answer 1

The population is 11179

Explanation:

We can use the compound interest formula but a modified type here.

Mathematically the population in the year 2025 will be;

P = I(1+r)^t

where p is the population by 2025

I is the initial population in 2018 which is 975

r is the percentage increase or decrease = 2.75% = 2.75/100 = 0.0275

t is the difference in years which is 2025-2018 = 7

Plugging these values we have;

P = 975(1+ 0.0275)^7

P =975(1.0275)^7

P = 1,178.9

which is 1179 to nearest whole number