Question

In 2007, the world's population reached 6.7 billion and was increasing at a rate of 1.2% per year. Assume that this growth rate remains constant. (In fact, the growth rate has decreased since 1987.)

(a) Write a formula for the world population as a function of the number of years since 2007. (Note: Use the general exponential function.)

Answer 1

Population growth rate is the rate in which the number of people increase in a given amount of time. The correct formula for the world population as a function is P=6.7(1.012)^t. P stands for the total world population.  Small t is represented by the unit time period.