Population of Jacksonville was 3810 and 2010 and is growing at an annual rate of 3.5% if the growth rate continues what will the approximate

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Population of Jacksonville was 3810 and 2010 and is growing at an annual rate of 3.5% if the growth rate continues what will the approximate population in 2023

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Edana Edana 4 years 2021-09-03T15:03:34+00:00 1 Answers 16 views 0

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  1. King
    0
    2021-09-03T15:05:04+00:00
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    Answer:

    FV= 5,958.67 = 5,959

    Step-by-step explanation:

    Giving the following information:

    Current population (Present Value)= 3,810

    Growth rate (g)= 3.5% annual

    Number of periods (n)= 13 years

    To calculate the future number of people (FV), we need to use the following formula:

    FV= PV*(1+i)^n

    FV= 3,810*(1.035^13)

    FV= 5,958.67 = 5,959

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