A town has a population of 17000 and grows at 4% every year. What will be the population after 12 years, to the nearest whole number?

Answer 1

1700e^.04(12) = about $2747

or

1700(1+.04)^12 = 1700(1.04)^12 = about $2722

2747 is calculated using continuous compounding

2722 is using annual compounding, once per year

for population growth continuous compounding is more realistic,

given "natural" death and birth rates. compound more than once a year

and the 12 year population will be somewhere between 2722 and 2747