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?

djo57bgfrqn 2022-10-23 Answered
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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Answers (1)

Ramiro Sosa
Answered 2022-10-24 Author has 13 answers
Use the following formula to find the population of the country be in 10 years.
P = P 0 ( 1 + r 100 ) n
Now substitute the above values,
P = P 0 ( 1 + r 100 ) n P = 50 ( 1 + 3 100 ) 10 P = 50 ( 1 + 0.03 ) 10 P = 50 ( 1.03 ) 10 P = 67.1958 P 67.20
Therefore, the population will be 67.20 millions in ten years.
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