Solve the problem.
-A town has a population of 1000 people and is increasing by 9% every year. What will the population be at the end of 9 years?
A) 1810 people
B) 1993 people
C) 2367 people
D) 2172 people

Question

Quizplus · Accepted Answer

The population after 9 years can be calculated using the formula for compound interest: P = P0(1 + r)^t, where P0 is the initial population, r is the growth rate, and t is the time in years. Here, P0 = 1000, r = 0.09, and t = 9. So, P = 1000(1 + 0.09)^9 ≈ 2172 people.

Solve the Problem. -A Town Has a Population of 1000 People and Is