Answer:
2150 people
Step-by-step explanation:
You want the number of people in a town after 10 years if the initial population of 1600 is growing at 3% per year.
Exponential growth
Exponential growth can be modeled by the equation ...
p(t) = a·b^t
where a = p(0) = the initial population, and
b = annual growth factor = (1 + annual growth rate)
Application
The problem statement tells you p(0) = 1600, and the growth rate is 3%. This means the equation modeling the population is ...
p(t) = 1600·1.03^t
Ten years
The population in 10 years is modeled as ...
p(10) = 1600·1.03^10 ≈ 2150
The population of the town after 10 years is expected to be about 2150 people.
