In 2012, the worlds population was 7 billion and the population was projected to reach 8 billion by the year 2025. What was the annual growth rate projected? Round to four decimals.

Yasmin 2021-01-10 Answered
In 2012, the worlds population was 7 billion and the population was projected to reach 8 billion by the year 2025. What was the annual growth rate projected? Round to four decimals.
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Pohanginah
Answered 2021-01-11 Author has 96 answers
Since the population growth equation is given by:
P=P0ert
P0 is the initial population in billions at time t, t is the number of years since 2012, r is the rate of growth of population per year.
So In this case,
P0=7bn
t=13[ since 2012 to 2025]
P=8bn
Hence substituting these values in the population growth equation,
8=7e13r
e13r= 87
ln(e13r)=ln(87)
13r=ln(87)
r=ln (87)13
r  0.0102
Answer: The annual growth rate of population is given below,
r  0.0102 per year.
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