Question

A city has a population of 250,000 people. Suppose that each year the population grows by 4.5%. What will the population be after 8 years?Use the calculator provided and round your answer to the nearest whole number.peopleI need help with this math problem.

Answer 1

Given:

The population=250,000 people.

The growth rate is 4.5 %.

The period of time is t =8 years.

Required:

We need to find the population after 8 years.

Explanation:

The population is increasing, so we can use the exponential growth equation.

The exponential growth equation is

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

Where P is the population after 8 years , r =4.5 % =0.045, t =8.

$\text{ Substitue }P_0=250000,\text{ r =0.045 and t =8 in the equation.}$$P=250000(1+0.045)^8$$P=250000(1.045)^8$$P=355525.153209$$P=355,525people$

Final answer:

The population after 8 years is 355,525 people.