Solve.
-A town has a population of 20,000 people and is increasing by 10% every year. What will the population be at the end of 5 years?
A) 30,000 people
B) 32,210 people
C) 29,282 people
D) 12,210 people

Question

Quizplus · Accepted Answer

The population increases by 10% annually, so the population after 5 years can be calculated using the formula for compound interest: P = P0(1 + r)^n, where P0 is the initial population, r is the annual growth rate, and n is the number of years. Substituting the given values: P = 20,000(1 + 0.10)^5 = 32,210 people.

Solve. -A Town Has a Population of 20,000 People and Is