Question

I need help on number 1 part b Please help

Answer 1

SOLUTION

The exponential growth rate is given by

$\begin{gathered} y=ab^x \\ \text{where } \\ a=\text{initail population} \\ b=growthrate\text{ } \\ x=Number\text{ of years } \end{gathered}$

From the part b of the question

$\begin{gathered} a=140 \\ b=1+r=1+\frac{1}{100}=1+0.01=1.01 \\ x=24 \end{gathered}$

Substitute into the equation above

$\begin{gathered} y=140\times(1.01)^{24} \\ \text{Then } \\ y=177.76\text{ million } \end{gathered}$

Therefore

b). The population will be 178 million