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## The population of a town is increasing at a constant rate of 4.7% each year. At the beginning of 2010 the population was 42,000. Find the si

Question

The population of a town is increasing at a constant rate of 4.7% each year. At the beginning of 2010 the population was 42,000. Find the size of the population at the beginning of 2016. Give your answer to 3 sf.

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Mathematics
3 years
2021-08-26T02:40:37+00:00
2021-08-26T02:40:37+00:00 1 Answers
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## Answers ( )

Answer:The population at the beginning of 2016 is 55,326.

Step-by-step explanation:Giving the following information:

Population 2010 (PV)= 42,000

Growth rate (g)= 4.7% = 0.047

Number of years (n)= 6 years

To calculate the population at the beginning of 2016, we need to use the following formula:FV= PV*(1+g)^nFV= 42,000*(1.047^6)

FV= 55,326

The population at the beginning of 2016 is 55,326.