Solve this population growth problem
acityhasapopulationof260000people.supposethateachyearthepopulationgrowsby8.75%.whatwillthepopulationbeafter12years?usethecalculatorprovidedandroundyouranswertothenearestwholenumber
Population Growth Logic
We model our population growth equation, P(t) using the following variables:
P0 as our initial population, p as our percent growth, and t as the units of time.
Our Population Growth Formula is:
P(t) = P0(1 + p)t
We are given the following values:
P0 = 260000, p = 0.0875, and t = 12
Since the population increases, we add p = 0.0875
Using our given values, our population model is:
P(t) = 260000(1 + 0.0875)t
P(t) = 260000(1.0875)t
The problem asks for P(12)
P(12) = 260000(1.0875)12
P(12) = 260000(2.7362210996434)
P(12) = 711417.48590729
Round our answer:
Rounded to the nearest integer, our population is 711417
