Question

a country's population in 1995 was 164 million. In 2001 it was 169 million. Estimate the population in 2015 using the sxponential growth formula. Round your answer to the nearest million

Answer 1

i really dont know this one

Answer 2

Reminder: A = P(1+r%)ⁿ, where P=initial capital, r% = growth rate and n= the number of years.

Interest (growth) over a PERIOD OF 6 YEARS 
(from 1995 to 2001): (169-164)/164 =
= 0.0304878 (or 3.04878%)
So in 2001 : A = 164(1+0.0304878)ⁿ/⁶ (with n = 6) → A=168
Over a period of 20 years (1995 to 2015):

A₂₀ =P₁(1+0.0304878)²⁰/⁶ with P₁ = 164

A₂₀ = 181 Millions