The population of a small town was 3000 at the beginning of 2007. Assuming an average growth rate of 0.8% per year, what will the population be at the beginning of 2015?

Question

Quizplus · Accepted Answer

To solve this problem, we can use the formula:

P = P0(1+r)^t

Where P is the population at the end of the time period, P0 is the initial population, r is the annual growth rate (as a decimal), and t is the number of years.

Plugging in the values given:

P = 3000(1+0.008)^8
P = 3000(1.008)^8
P ≈ 3197

Therefore, the population at the beginning of 2015 will be approximately 3197. The answer is D.

The Population of a Small Town Was 3000 at the Beginning