A town has a population of 2, point, 3, 3, times, 10, to the power 42.33×10 4 and grows at a rate of 7% every year. Which equation represents the town’s population after 6 years?Answer
Question
A town has a population of 2, point, 3, 3, times, 10, to the power 42.33×10 4 and grows at a rate of 7% every year. Which equation represents the town’s population after 6 years?Answer
Solution 1
The equation that represents the town's population after 6 years is:
P = 2.33 * 10^4 * (1 + 0.07)^6
Where:
- P is the future population
- 2.33 * 10^4 is the initial population
- 0.07 is the annual growth rate (7% expressed as a decimal)
- 6 is the number of years
This equation is based on the formula for compound interest, which is also used to calculate population growth.
Solution 2
The equation that represents the town's population after 6 years is:
P = 2.33 * 10^4 * (1 + 0.07)^6
Where:
- P is the future population
- 2.33 * 10^4 is the initial population
- 0.07 is the annual growth rate (7% expressed as a decimal)
- 6 is the number of years.
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