Question

A town has a population of 75,000 and is growing every year at a rate of 3.5%. What will the population be in 15 years?

Answer 1

The growth of the town is an illustration of exponential growth function

The population of the town in 15 years is 125651

How to determine the population in 15 years?

The given parameters are:

• Initial value, a = 75000
• Rate, r = 3.5%

An exponential growth function is represented as:

y = a * (1 + r)^t

So, we have:

y =75000 * (1 + 3.5%)^15

Evaluate

y =125651

Hence, the population in 15 years is 125651

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