Answer: 546496.76
Step-by-step explanation:
Given the following :
Current population = 220,000
Population growth rate per year = 7.25%
Population size after 13 years =?
Using the compounding formula :
A = P(1 + r)^t
Where ;
A = final population size
P = current population size
r = growth rate
t = time or period
A = P(1 + r)^t
A = 220,000 ( 1 + 7.25/100)^13
A = 220,000 ( 1 + 0.0725)^13
A = 220,000 (1.0725)^13
A = 220,000(2.484076)
A = 546496.760
The population will be about 546,497 people
