Suppose the population of a town is 8,600 and is growing 3% each year. Predict the population after 3 years.
a
about 9,397 people
b
about 77,400 people
c
about 232,200 people
d
about 26574 people
To calculate the population after 3 years, we can use the formula for exponential growth:
Final Population = Initial Population * (1 + Growth Rate)^Number of Years
In this case, the initial population is 8,600, the growth rate is 3%, and the number of years is 3.
Final Population = 8,600 * (1 + 0.03)^3
Final Population = 8,600 * (1.03)^3
Final Population ≈ 8,600 * 1.092727 ≈ 9397
Therefore, the population after 3 years is about 9,397 people.
So, the correct answer is option a) about 9,397 people.