Population of Mexico has been increasing at annual rate of 1.7% if population was 100,350,000 in year 2000, predict population in 2015. Round to nearest number
100,350,000 * (1 + .017)^15
To predict the population in 2015, we need to use the formula for compound interest:
Final Population = Initial Population * (1 + growth rate)^number of years
Given:
Initial Population (P0) = 100,350,000
Growth Rate (r) = 1.7% = 0.017 (expressed as a decimal)
Number of Years (t) = 2015 - 2000 = 15
Plugging in these values into the formula, we can calculate the predicted population in 2015:
Final Population = 100,350,000 * (1 + 0.017)^15
Calculating this in steps:
Step 1: (1 + 0.017) = 1.017
Step 2: (1.017)^15 ≈ 1.317
Step 3: 100,350,000 * 1.317 = 132,079,950
Therefore, the predicted population in Mexico in 2015 is approximately 132,079,950 (rounded to the nearest whole number).