The population of a town was 489 in 1970. The population has been growing at a rate of 23 percent each year. What is the population of the t

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The population of a town was 489 in 1970. The population has been growing at a rate of 23 percent each year. What is the population of the town in the year 1995

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Calantha 4 years 2021-08-26T20:01:54+00:00 1 Answers 6 views 0

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  1. Ben
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    2021-08-26T20:03:42+00:00
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    Answer:

    86,484

    Step-by-step explanation:

    The population growth can de determined by using this formula

    The formula for calculating future value:

    FV = P (1 + r)^n

    FV = Future value  

    P = Present value = 489  

    R = interest rate 23

    N = number of years =1995 – 1970 = 25

    489 x ( 1.23)^25 = 86,484

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