A town has a population of 12000 and grows at 5% every year. What will be the population after 12 years, to the nearest whole number?
We calculate the population of the town as P(t) where t is the time in years since now.
P(t) = 12000(1.05)^t
The problem asks for P(12)
P(12) = 12000(1.05)^12
P(12) = 12000(1.79585632602)
P(12) = 21550 <- nearest whole number
We calculate the population of the town as P(t) where t is the time in years since now.
P(t) = 12000(1.05)^t
The problem asks for P(12)
P(12) = 12000(1.05)^12
P(12) = 12000(1.79585632602)
P(12) = 21550 <- nearest whole number