The population of a small town was 1200 at the beginning of 2009. Assuming an average growth rate of 4.2% per year, what will the population be at the beginning of 2019?

Question

Quizplus · Accepted Answer

The population growth 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. Substituting the given values: P = 1200(1 + 0.042)^10 ≈ 1811.

The Population of a Small Town Was 1200 at the Beginning