Problema Solution
if the population in a particular country is growing at 1.7% compounded continuously, how long will it take the population to double?
Answer provided by our tutors
P = the initial population
A = 2P the future population (double)
r = 0.017 or 1.7% annual rate
t = the time needed for the population to double
A = P(1 + r)^t
P(1 + r)^t = A
P(1 + r)^t = 2P divide both sides by P
(1 + 0.017)^t = 2
1.017^t = 2
........
click here to see the equation solved for t
........
t = 41 years
It will take 41 years for the population to double.