townsville had a population of 90000 in 1998. the population is growing at an annuall rate of 1.5%. Predict to the nearest whole number the population of Townsville by the year 2010.
number of years, n = 2010-1998=12
Growth rate, r = 1.5%
Compound interest formula
N(2010)=N(1998)*(1+r)^n
=90000*1.015^12
=?
Post your answer for checking if you wish.
107606
To predict the population of Townsville by the year 2010, we need to calculate the population growth over the given time period.
First, let's calculate the population growth rate per year. The annual growth rate is given as 1.5%. To express this as a decimal, we divide it by 100: 1.5/100 = 0.015.
Next, we need to find the number of years between 1998 and 2010. Subtracting 1998 from 2010 gives us 12 years.
Now, we can calculate the population growth over 12 years. To do this, we use the formula:
New Population = Initial Population * (1 + Growth Rate)^Number of Years
Plugging in the values we have:
New Population = 90000 * (1 + 0.015)^12
Calculating this using a calculator or a spreadsheet, we find that the new population of Townsville by the year 2010 is approximately 102,538.
Therefore, the population of Townsville by the year 2010, rounded to the nearest whole number, is predicted to be 102,538.