Suppose a country has a population of 50 million and projects a growth rate of 3% per year for the next 20 years. What will the population of this country be in 10 years?

Suppose a country has a population of 50 million and projects a growth rate of 3% per year for the next 20 years. What will the population of this country be in 10 years?
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Ramiro Sosa
Use the following formula to find the population of the country be in 10 years.
$P={P}_{0}\left(1+\frac{r}{100}{\right)}^{n}$
Now substitute the above values,
$P={P}_{0}\left(1+\frac{r}{100}{\right)}^{n}\phantom{\rule{0ex}{0ex}}P=50\left(1+\frac{3}{100}{\right)}^{10}\phantom{\rule{0ex}{0ex}}P=50\left(1+0.03{\right)}^{10}\phantom{\rule{0ex}{0ex}}P=50\left(1.03{\right)}^{10}\phantom{\rule{0ex}{0ex}}P=67.1958\phantom{\rule{0ex}{0ex}}P\approx 67.20$
Therefore, the population will be 67.20 millions in ten years.