word problem math (help pleaseee really needed)

Question

The population of the GTA is growing at 12 % per year. If the population of Toronto is 2.9 million in 2020, how many people would we expect to have by 2045?

1. Write an equation to model the population growth P(t), from 2020, t.
2. Use your equation to find how many people will be in the GTA in 2045

Answer 1

58,248,057 population in 2045

A(t) = Pe^rt where r=12%, P=initial population when t=0

A(t) =2.9e^.12t where t = number of years afer 2020

A(25) = 2.9e^.12(25) = 2.9e^3 = about 58.248057 million for the Toronto Greater Area in 2045

which assumes continuous compounding, a realistic assumption, since humans don't have breeding seasons like lower animals. We're so civilized. but if you wanted yearly compounding then the answer is less

A=2.9(1+r)^t

=2.9(1.12)^25 =about 2.9(17) = about 49.3 million