Population Growth Word Problem / Compound Interest

Question

Super lost with this word problem..... I am getting 21.6 Million people

 

China’s urban population is growing at 2.5%   a year, compounding continuously. If there were 13.7  million people in Shanghai in 1996, approximately how many people will there be in 2019? 

 

Apply the formula N= Noe^rt  , where N represents the number of people.

 

Answer in terms of millions of people. Round the answer to one decimal place.

 

N =__________ Million people?

Answer 1

A = 13.7 * 2.7183^(.025*23) = 24.35 million.  I am not counting the  year 1996 so I am using 23 years. Without seeing your calculation I cannot tell why your answer is too low.