Problema Solution
If the population in the year 2000 for School town is 1,600 and is increasing at a rate of 2.2% every 5 years, what is the projected population in the year 2025? Round to the nearest whole number.
Answer provided by our tutors
2.2% is 0.022 as a decimal
(2025 - 2000)/5 = 5, so for 5 periods the population grows 2.2% every 5 years
let 'T' represent the total population projected:
T=1600(1+0.022)^5
click here to solve for the projected popultation
T=1783.9
So the projected population by 2025 would be 1,784.