Question

The population of a city is about 200,000 and is growing at a rate of 0.6% per year.

A. What multiplier is used to find the new population each year?


B. Estimate the population 4 years from now.

Answer 1

A)

$\bf \qquad \textit{Amount for Exponential Growth}\\\\ A=P(1 + r)^t\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{initial amount}\to &200000\\ r=rate\to 0.6\%\to \frac{0.6}{100}\to &0.006\\ t=\textit{elapsed time}\to &t\\ \end{cases} \\\\\\ A=200000(1+0.006)^t\implies A=200000(1.006)^t$

B)    $\bf A=200000(1.006)^4$