A population is currently 532,000 and is increasing at a rate of 5% each year. Write a function to represent the population in x years
Let P(x) represent the population in x years.
The initial population is 532,000.
The population is increasing at a rate of 5% each year, which means that it is growing by 5% of its current value every year. Therefore, in one year, the population will increase by 5% of 532,000.
To calculate the population in x years, we can use the formula:
P(x) = 532,000 * (1 + 0.05)^x
Simplifying further:
P(x) = 532,000 * 1.05^x
Thus, the function that represents the population in x years is P(x) = 532,000 * 1.05^x.