A town has a population of 10000 and grows at 2.5% every year. What will be the population after 7 years, to the nearest whole number?

Question

im confused on how to find the answer on this question.

Answer 1

Usually these types of problems are set up

P₀(1+r)^t

Where P₀ is the initial amount

r is the rate as a decimal

t is the time

Plugging the info into the equation

10000(1+.025)⁷

10000(1.025)⁷

11886.86