The last problem same as this one was wrong. This is wrong too please help.
Problem: The fox population in a certain region has an annual growth rate of 11℅ per year. In the year 2012, there were 22,300 foxes counted in the area. What is the fox population predicted to be in the year 2018? Round to nearest fox.
P_0 (1+r)^t
22,300 (1+0.11)^1
22,300(1.11)^7
22,300(2.01761601528)
46298.371409= 46,298
2018 is only 6 years after 2012, not 7.
t = 2018 - 2012 = 6 yrs
P = 22,300 * 1.11 ^ 6
P = 22,300 * 1.870414552161
P = 41,710.2445131903
P = 41,710
Rounded to nearest fox
To solve this problem, you can utilize the formula for compound interest (P_0 * (1 + r)^t), where P_0 represents the initial population, r represents the growth rate as a decimal, and t represents the number of years.
Given that the initial population in 2012 is 22,300 and the annual growth rate is 11%, we can substitute these values into the formula:
P_0 * (1 + r)^t = 22,300 * (1 + 0.11)^6
Calculating this expression, we get:
22,300 * (1.11)^6 = 22,300 * 2.176234 = 48,504.142
Since we are asked to round to the nearest whole number, the predicted fox population in the year 2018 is approximately 48,504.