Question

In the year 2019, the population of a city is 20,612 people. The population increases at a rate of 1.8% per year. Based

on this rate, during what year would the population of the city exceed 25,000 people?
2027
2029
2031
2032

Answer 1

2029

Explanation:

Answer 2

B: 2029

Explanation:

Interest Formula

`A=P(1+r)^n`

A= amount

P= initial amount

r= rate/percentage

n= years

All we have to do is plug in the numbers from the word problem to get:

`20,612(0.018+1)^(n) =25,000`

From here we solve for n:

`(1.018)^n=(25,000)/(20,612) \\(1.018)^n=1.213\\`

Get the natural log (ln) of both sides:

`n=(ln(1.213))/(ln(1.018))`

n is approximately 10.823

n is the number of years it will take for the population to reach 25,000 people.

2019+10

=2029