Question

A town has a population of 2000 and grows at 4% every year. What will be the population after 15 years, to the nearest whole number?

Answer 1

Here we apply the Exponential growth and decay formula given as,

$P_t=P_0({r\over100}+1)^{t}$ where,

$t$ is time

$P_t$ is the population at time $t$

$r$ is the growth rate.

$P_0$ is the population at time $t=0$

Here,

$P_0=2000\\r=4\\t=15$

Therefore,

$P_{15}=2000({4\over100}+1)^{15}=2000(1.80094351)=3601.88702\approx 3602$

Population after 15 years will be approximately 3602