A city has a population of 260,000 people. Suppose that each year tbe population grows by 5.5%. What will the polulation be in 12 years.

Question

Round to nearest whole number

Answer 1

A city has a population of 260,000 people. Suppose that each year the population grows by 5.5%. What will the population be in 12 years?

Answer: Approximately 494,314 people

This is an exponential growth question, specifically population growth. We will use the following equation to help us solve this situation:

P(t) = a(1+r)^t

P(t) = total population (??)

a = initial population = 260,000

r = growth factor (the percent as a decimal) = 0.055

1 + r = 1 + 0.055 = 1.055

t = time in years = 12

So, we can substitute all our information and solve:

P(12) = 260,000(1.055)¹² = 494,313.95

Rounding to the nearest whole person, 494,314 people in 12 years.