College algebra question

Question

The population of the world in 1987 was 5 billion and the annual growth rate was estimated at 2 percent per year. Assuming that the world population follows an exponential growth model, find the projected world population in 1998.

Answer 1

Hi Hunter,

This is essentially the same question as the other one you posted, so I will set this up for you and let you do the final calculation:

Use the formula:

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

a=initial value

r=rate

t=time

Here,

a=5000000000

r=0.02

t=11 years, 1987-1998

f(11)=5000000000(1+0.02)¹¹

I'll leave the final calculation to you.