A town has a population of 5000 and grows at 2% every year. What will be the population after 5 years, to the nearest whole number?

Answer 1

At the end of each year, the population will be 1.02 times what it was at the start of the year. Keep this up for t years and get

P(t) = P₀ (1.02)^t

P₀ = initial population

P(t) = population t years after it started at P₀

t = years elapsed since it started at P₀

P(t) = 5000 (1.02)^t

Plug in t=5, evaluate P(5) and finish from here.