Problema Solution
Brad created a chart that shows the population of a town will increase to 109,627 people from a current population of 15,200 people. The rate of increase is an annual increase of 6.52%. Brad forgot to include the number of years this increase will take. How many years was it?
(Solve algebraically.)
Answer provided by our tutors
Let 't' represent the number of years
P = 15,200 people for t = 0
A = 109,627 people for some t that we need to find
r = 0.0652 or 6.52% is the annual increase rate
A = P(1 + r)^t
109627 = 15200(1 + 0.0652)^t
15200(1 + 0.0652)^t = 109627
1.0652^t = 109627/15200
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t = 31.28 years
It was 31.28 years.