Question

A town has a population of 5000 and grows at 4% every year the initial population is 5000 find growth model and determine population after 3years

Answer 1

Initial population = 5000

Grows rate = 4%

Time period= 3 years

Population after 3 years will be:

$P_3=P_0(1+r)^n$

$P_3=5000\times(1+0.04)^3$

$P_3=5000\times1.125=5625$