The City of South Bay has a current
population of 85 000. If the city is
increasing at a rate of 7.25% per year,
calculate the future population in 8 years
time. Round to the nearest person.
what is 85000(1.0725)^8 ?
To calculate the future population of the City of South Bay in 8 years, we need to use the population growth formula:
Future Population = Current Population * (1 + Growth Rate)^Number of Years
Let's plug in the given values into the formula:
Current Population = 85,000
Growth Rate = 7.25% = 0.0725
Number of Years = 8
Future Population = 85,000 * (1 + 0.0725)^8
To calculate this, we need to evaluate the expression in parentheses first:
(1 + 0.0725)^8 = 1.0725^8
Now, let's calculate the population using a calculator or a spreadsheet:
Future Population = 85,000 * 1.0725^8
Computing this, we find:
Future Population ≈ 122,440.26
Rounded to the nearest person, the estimated future population of the City of South Bay in 8 years is 122,440 people.