Suppose the population of a town was 25,000 people in 2000. If the population grows about 1.5% each year, what will the approximate population be in 2025?
To find the approximate population in 2025, we need to calculate the population growth from 2000 to 2025.
We can calculate the population growth by multiplying the current population by 1 plus the growth rate each year. In this case, the growth rate is 1.5%.
Population in 2000 = 25,000
Growth rate = 1.5% = 0.015
Population in 2025 = 25,000 * (1 + 0.015)^25
Using a calculator or software, we can compute the population in 2025:
Population in 2025 ≈ 25,000 * (1 + 0.015)^25 ≈ 25,000 * 1.4474 ≈ 36,185
Therefore, the approximate population in 2025 will be around 36,185 people.
To calculate the approximate population in 2025, we can use the formula for compound interest:
Population = Initial Population × (1 + Growth Rate)^Number of Years
Given:
Initial Population (2000) = 25,000 people
Growth Rate = 1.5% = 0.015
Number of Years = 2025 - 2000 = 25 years
Now, let's calculate the population in 2025 step-by-step:
Step 1: Calculate the growth rate factor
Growth Rate Factor = 1 + Growth Rate
= 1 + 0.015
= 1.015
Step 2: Calculate the population in 2025
Population = Initial Population × Growth Rate Factor^Number of Years
= 25,000 × (1.015)^25
Now, we can use a calculator to find the approximate population in 2025.
To find the approximate population in 2025, we need to calculate the population growth over the years from 2000 to 2025.
Step 1: Calculate the growth rate per year.
The population is growing by approximately 1.5% each year. We can convert this percentage into a decimal by dividing it by 100: 1.5 / 100 = 0.015.
Step 2: Calculate the number of years from 2000 to 2025.
There are 25 years between 2000 and 2025.
Step 3: Calculate the population in 2025.
Start with the initial population in 2000 (25,000) and apply the growth rate for each year. Multiply the population by (1 + growth rate) for the number of years (25).
Population in 2025 = 25,000 * (1 + 0.015)^25.
Now we can calculate the population in 2025.
Population in 2025 ≈ 25,000 * (1 + 0.015)^25 ≈ 35,974.55.
Therefore, the approximate population in 2025 would be approximately 35,975 people.