Question

From 2006 to 2010, the population of a town declined to 22,000. The population is expected to continue to decline at a rate of 2. 8% each year.


What will the population be in 2040?


Round to the nearest whole number

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Answer 1

The population of the town in 2040 will be 9384.

According to the question,

We have the following information:

From 2006 to 2010, the population of a town declined to 22,000. The population is expected to continue to decline at a rate of 2.8% each year.

Rate of decline = 2.8/100

Rate of decline = 0.028

Number of years = 30 years (time between 2010 and 2040)

We know that the following formula is used to find the future population:

Future population = present population$(1-I)^{n}$ where I is the rate of decline and n is the number of years

Future population = 22000$(1-0.028)^{30}$

Future population = 9384.49

Future population = 9384

Hence, the population of the town in 2040 will be 9384.

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