Question

The population of New Town is increasing by 6% a year.

If the population was 19613 on January 1st, 2000, what was it on January 1st, 2020?
Give your answer to the nearest 100 people.

Answer 1

After population (A) = 62,902 (Approx)

Explanation:

Given:

Current population (P) = 19613

Number of years (n) = 2020 - 2000 = 20 year

Rate of growth (r) = 6% = 0.06

Find:

After population (A)

Computation:

`After\ population (A) = Current\ population (P)[1+r]^n \\\\After\ population (A) = 19613[1+0.06]^(20) \\\\After\ population (A) = 19613[1.06]^(20) \\\\After\ population (A) = 62,901.548`