Suppose the population of a town is 8,600 and is growing 3% each year. Predict the population after 3 years.
a
about 232,200 people
b
about 26574 people
c
about 9,397 people
d
about 77,400 people
The correct answer is d) about 9,400 people.
To calculate the population after 3 years, we can use the formula:
Population after n years = Initial population * (1 + growth rate)^n
Given that the initial population is 8,600 and the growth rate is 3% (or 0.03), we can substitute these values into the formula:
Population after 3 years = 8,600 * (1 + 0.03)^3
= 8,600 * (1.03)^3
= 8,600 * 1.092727
≈ 9,397
Therefore, the predicted population after 3 years is about 9,397 people.