Question

Richmond County has a population of 850,000 people, which increases by 10% every year due to a growing tech industry. What will the population be in 2 years?

Answer 1

To calculate the population of Richmond County in 2 years with an annual growth rate of 10%, you can use the formula for exponential growth:

\[
P = P_0 \times (1 + r)^t
\]

where:
- \( P \) is the future population,
- \( P_0 \) is the current population,
- \( r \) is the growth rate (as a decimal),
- \( t \) is the number of years.

In this case:
- \( P_0 = 850,000 \)
- \( r = 0.10 \)
- \( t = 2 \)

Now substituting the values into the formula:

\[
P = 850,000 \times (1 + 0.10)^2
\]
\[
P = 850,000 \times (1.10)^2
\]
\[
P = 850,000 \times 1.21
\]
\[
P = 1,028,500
\]

Therefore, the population of Richmond County in 2 years will be approximately **1,028,500** people.