Question

A city has a population of 340,000 people. Suppose that each year the population grows by 4.5%. What will the population be after 9 years?

Answer 1

Answer: 505,272

Step-by-step explanation:

Use the formula of Exponential growth:

$P=P_0(1+r)^t$

Where $P_0$ is the initial poblation, r is the growth rate and t is the time in years.

Then, you know that:

$P_0=340,000\\\\r=\frac{4.5}{100}=0.045\\\\t=9$

Substitute these values into the formula $P=P_0(1+r)^t$. Therefore, you get that the population after 9 years is:

$P=340,000(1+0.045)^9\\P=505,272.34$

Rounded to the nearest whole number:

$P=505,272$