What will be the approximate population of the Canada, if its current population of 35 million grows at a compound rate of 2% annually for 25 years?
A)51 million
B)53 million
C)61million
D)57 million

Question

Quizplus · Accepted Answer

The future population 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. Plugging in the values: P = 35 million * (1 + 0.02)^25 ≈ 57 million.

What Will Be the Approximate Population of the Canada, If