Problema Solution
A city has a population of 280,000 people. Suppose that each year the population grows by 4.75%. What will the population be in 11 years?
Answer provided by our tutors
let x = the number of years, f(x) = the population number
start x = 0
f(x) = 280,000
after 1 year
x = 1
f(1) = f(0) + 0.0475*f(0) = f(0)(1 + 0.0475)
after 2 years
f(2) = f(1) + 0.0475*f(1) = f(1)(1 + 0.0475) = f(0)(1 + 0.0475)^2
f(2) = f(0)(1 + 0.0475)^2
....
after 11 years
f(11) = f(0)(1 + 0.0475)^11
f(11) = 280000*1.0475^11
f(11) = 466,501
after 11 years the population will be 466,501 people.