A population of 2000 fish increases at an annual rate of 7.5%. How many fish will there be in 10 years?

Question

I need help with this algebra problem. Please help me. It would be really appreciated. 

Answer 1

This is compound growth rate problem.  The formula is:

 

A_t = A₀(1 + r)ⁿ

 

A_n is the amount after n periods

A₀ is the amount at the start

r is the growth rate per period (as a decimal, not a percentage)

n is the number of periods.

 

In this case:

 

The "period" is one year

A₀ is 2000

r is 7.5% or 0.075

n is 10

 

So A_n = 2000 (1 + 0.075)¹⁰ = 4122.06.

 

But since there can't be a fraction of a fish, you round to the nearest integer:  4122