A population grows 2.1% in 1995 was 1 million how long Will take to reach 2 million

Question

Please reply soon I will wiat your answer

Answer 1

This is an example of compound interest.

It is calculated by multiplying by 100%+2.1%:

1. 1,000,000
2. 1,000,000 x 102.1% = 1,000,000 x 1.021 = 1,021,000
3. 1,021,000 x 1.021
4. Product of 3 x 1.021
5. Product of 4 x 1.025
6. Etc.

You can do it in a spreadsheet, pretty easy: https://www.automateexcel.com/formulas/compound-interest-calculate-excel/