Question

A city has a population of 400,000 people. Suppose that each year the population grows by 3.75%. What will the population
be after 15 years?
Use the calculator provided and round your answer to the nearest whole number.

Answer 1

Answer:

The population after 15 years will be $694,835\ people$

Step-by-step explanation:

In this problem we have a exponential function of the form

$f(x)=a(b^{x})$

where

a is the initial value

b is the base

r is the rate

b=(1+r)

x ----> the number of years

f(x) ----> the population

we have

$a=400,000\ people$

$r=3.75\%=3.75/100=0.0375$

$b=1+r=1+0.0375=1.0375$

The equation is

$f(x)=400,000(1.0375^{x})$

For x=15 years

substitute the value of x

$f(x)=400,000(1.0375^{15})$

$f(x)=694,835\ people$

therefore

The population after 15 years will be $694,835\ people$