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?

Answer 1

Exponential growth formula:

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

t: time

P: initial amount

r: rate (in decimals)

We need to find the population in 7 years, so:

t = 7

P = 10000

r = 2.5% = 0.025

f(7) = 10000 (1 + 0.025)⁷

f(7) = 10000 (1.025)⁷

f(7) = 10000 (1.189)

f(7) = 11886.88

f(7) ≅ 11887

The population after 7 years will be 11887.