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A towns population is estimated to increase by 13% per year. Population is 20,000. What will be the population in 9 years?

3 answers

20000 * 1.13^9 = 60080

Can you further explain this? Not sure if it's the way it is written

P = Po(1+r)^9
P = 20,000(1+0.13)^9 = 60,080.84.

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