I been trying this problem i got the wrong answer. This what got.
Problem: The fox population in a certain region has an annual growth rate of 8℅ per year. In the year 2012, there were 23,500 foxes counted in the area. What is the fox population predicted to be in the year of 2019?
t= 2019-2012=7
P= 23500* 0.08^7
23500*2.097152E-8
=0.004928307=0.0049
Does that answer make any sense to you?
number = 23500(1.08)^7
= .....
your formula is incorrect
No i will try your formula.
To solve this problem, you need to understand compound growth and use the formula for compound interest. In this case, the fox population is growing at a rate of 8% per year.
To calculate the predicted fox population in 2019, you can use the following steps:
1. Determine the number of years from 2012 to 2019. In this case, it is 7 years since there are 7 years between 2012 and 2019.
2. Use the formula for compound interest to calculate the future value of the fox population:
Future Value = Present Value * (1 + Rate/100)^Time
In this case, the present value is the initial population count in 2012, which is 23,500. The rate is 8% per year, and the time is 7 years.
Plugging these values into the formula:
Future Value = 23,500 * (1 + 8/100)^7
3. Calculate the result:
Future Value = 23,500 * (1.08)^7
You can use a calculator to find the value of (1.08)^7, which is approximately 1.7137.
4. Multiply the result by the present value:
Future Value = 23,500 * 1.7137
5. Calculate the final result:
Future Value ≈ 40,249
Therefore, the predicted fox population in the year 2019 is approximately 40,249.