Tacoma's population in 2000 was about 200 thousand, and has been growing by about 8% each year. If this continues, what will Tacoma's population be in 2015?

Question

Tacoma's population in 2000 was about 200 thousand, and has been growing by about 8% each year. If this continues, what will Tacoma's population be in 2015?

Answer 1

If the population at the beginning of 2000 was 200,000

Then the growth equation is P = Po(1.08)^(y) where year year 2000 was year 1 or y = 1

At the end of 2015 or 2015-2000 = 15 years later, or at the end of the 15th year:

Population P(15) = (200,000)(1.08)¹⁵ = 634,434