A town has a population of 2000 and grows at 4.5% every year. What will be thepopulation after 13 years, to the nearest whole number?

Accepted Solution

Answer:3544Step-by-step explanation:This is a problem of compound growth. The formula is[tex]F=P(1+r)^t[/tex]Where F is the value in the future (in this case, the population after 13 years)P is the intial amount (here, the initial population of 2000, so P = 2000)r is the rate of growth (here, it is 4.5%, in decimal, 0.045)t is the time frame (here, it is 13 years, so t = 13)we can plug the numbers into the formula and solve for F:[tex]F=P(1+r)^t\\F=2000(1+0.045)^{13}\\F=2000(1.045)^{13}\\F=3544.4[/tex]rounded to the nearest whole number, the population after 13 years would be 3544