Solve the problem.
-A town has a population of 3000 people and is increasing by 9% every year. What will the population be at the end of 8 years? Round answer to the nearest whole number.
A) 5160
B) 5978
C) 6516
D) 5484

Question

Quizplus · Accepted Answer

The population after 8 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 = 3000, r = 0.09, and t = 8. So, P = 3000(1 + 0.09)^8 ≈ 5978.

Solve the Problem. -A Town Has a Population of 3000 People and Is