Question

bluestone has a population of 14,000.the population is increasing at a rate of 3%.what will the population be in 3 years

Answer 1

the population in 3 years will be 15,298

Explanation:

Initial population = 14,000

time = 3 years

growth rate = 3%

We would apply the exponential growth formula:

$\begin{gathered} y=a(1+r)^x \\ a\text{ = initial population} \\ r\text{ = growth rate = 3\% = 0.03} \\ x\text{ = time = 3 years} \end{gathered}$$\begin{gathered} y=14000(1+0.03)^3 \\ y=14000(1.03)^3 \\ y\text{ = 14000}\times1.0927 \\ y\text{ = 15297.8} \end{gathered}$

Approximately, the population in 3 years will be 15,298