(1) If the population of a city was 2 million in 1995 and growing at a rate of 6.4%, what will the population be in the year 2000?
a. 2.5 million
b. 2.7 million
c. 10.64 million
d. 43.6 million
pop. = 2 million(1.064)^5
= 2 million(1.3636664)
= 2.7 million
To find the population in the year 2000, you'll need to calculate the growth over the span of 5 years (from 1995 to 2000).
First, start with the initial population of 2 million in 1995. Then, calculate the growth rate of 6.4% per year.
To find the population in 1996, multiply 2 million by 1.064 (1 + 6.4% growth rate = 1.064). This gives you 2,128,000.
Repeat this step for each subsequent year:
- Population in 1997: 2,128,000 * 1.064 = 2,264,192
- Population in 1998: 2,264,192 * 1.064 = 2,405,583
- Population in 1999: 2,405,583 * 1.064 = 2,553,286
- Population in 2000: 2,553,286 * 1.064 = 2,716,892
Therefore, the population of the city in the year 2000 will be approximately 2.7 million.
The correct answer is option b) 2.7 million