Question

The countries population in 1991 was 231 million . In 1999 it’s was 233 million. estimate the population in 2003 used The exponential growth formula. Round your answer to the nearest million

Answer 1

The population in 2003 was 234 million

Explanation:

In order to calculate the population in 2003 we would have to use the The exponential growth formula as follows:

p(y)=ir^t

According to the given data:

p(y)=233 million

i=231 million

t =1999-1991

Therefore, 233 million=231 million r^(1999-1991)

(233 million/231 million)^(1/8)=r

p(y)=231 million(233 million/231 million)^((y-1991)/8)

Therefore, in 2003 p(2003)=231 million(233 million/231 million)^((2003-1991)/8)

p(2003)=231 million(233 million/231 million)^(1.5)

p(2003)=234 million

The population in 2003 was 234 million