Exponential growth and decay

Question

Suppose a city with population 700,000 has been growing at a rate of 88​% per year. If this rate​ continues, find the population of this city in 16 years

The population in 16 years will be approximately(rounded to the nearest whole number as needed)

Answer 1

Exponential growth can be modeled by the equation:

P(t) = P₀(1 + r)^t where P is population meaning that P(t) is the population at any time "t" ("t" being measured in years), with P₀ being the population at time t = 0 (the starting population) and "r" being the rate of population growth (per year) in decimal form (so 88% = 88/100 = 0.88).

So, in this case:

P(t) = 700000(1 + 0.88)^t and we are told that we are to find the population in 16 years so t = 16:

P(16) = 700000(1 + 0.88)¹⁶

P(16) = 700000(1.88)¹⁶

P(16) = 700000•(24351.49272)

P(16) = 17,046,044,907