Question

A town has a population of 18000 and grows at 2% every year. What will be the population after 12 years, to the nearest whole number?

Answer 1

$$N(t)=N(0)(1+r)^t$$

$$N(12)=18000(1+0.02)^{12}$$

$$N(12)=22828$$

A town will have a population of 22828 after 12 years.