A country's population in 2011 is 151 million it has a growth rate of 1.288% what is the population in 2027

Question

I need to use the Logistic Growth model to answer this question 

Answer 1

P(t) = P₀·(1 + rate)^t-t₀

• P(t) = Population at time t
• P₀ = Starting population in 2011 = 151 million
• b = growth rate in decimal = 1.288% = 0.01288
• t = current year = 2027
• t₀ = starting year = 2011

 

P(t) = 151·(1 + 0.01288)^t-2011

P(t) = 151·(1.01288)^t-2011

 

To find the population in 2027, plug in t=2027 and use your calculator to compute the answer (in millions).