Problema Solution
In 2004, the population of a country was 15,500,321. The population is expected to grow at a rate of 0.6% each year. Predict the population of the country in 2012.
Answer provided by our tutors
We will use the general exponential growth equation that states:
x=x(0)*e^(kt)
where x(0)=15,500,321; k=.006 (decimal format of .6%); and t=8 (because there are 8 years between 2004 and 20012). Plugging these in, we get:
x=(15,500,321)*e^(.006*8)
x=16,262,481.94
Since .94 of a person is not defined, we would say that the population would be 16,262,481