Suppose a city with population 620,000 has been growing of a rate of 3% per year. If this rate continues, find the population of this city in 14 years
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Question
Suppose a city with population 620,000 has been growing of a rate of 3% per year. If this rate continues, find the population of this city in 14 years
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Answer:
937,806
Step-by-step explanation:
We solve this question in using the population growth rate formula
P(t) = Po(1 + r)^t
P(t) = Population after t years. = ??
Po = Initial Population = 620,000
r = Growth rate = 3% = 0.03
t = Time in years = 14
P(t) = 620000 (1 + 0.03)¹⁴
P(t) = 620000(1.03)¹⁴
P(t) = 937805.62941
Approximately P(t) = 937,806
The population of the city in 14 years is 937,806