Suppose that the population of a certain country grows at an annual rate of 6.5%. If the current population is 4 million, what will be the population in 10 years? (Round your answer to the nearest 100 thousand people.)
show your work
To calculate the population in 10 years, we can use the formula for exponential growth:
Population = Initial Population * (1 + Growth Rate)^Number of Years
Population = 4,000,000 * (1 + 0.065)^10
Population = 4,000,000 * (1.065)^10
Population = 4,000,000 * 1.8696825
Population ≈ 7,478,730
Therefore, the population in 10 years will be approximately 7.5 million people.