I am stuck in exponential growth and decay. Here is an example. Can someone tell me how to do this step-by-step please? Here it is...
The population of Mexico has been increasing at an annual rate of 1.7%. If the population of Mexico was 100,350,000 in the year 2000, predict its population in 2012.
I tried this many times but kept failing at it. Can someone please help me? Thanks
3 answers
The examples in my book didn't help and didn't even mention anything remotely simialr to this problem.
Pt = Po(1 + rt),
r = 1.7% / 100% = 0.017 = Annual % increase expressed as a decimal.
t = 2012 - 2000 = 12yrs.
rt = 0.017/yr * 12yrs = 0.204.
Pt = 100.35*10^6(1.204),
Pt = 120.8214*10^6 = 120,821,400 = population in 2012.
r = 1.7% / 100% = 0.017 = Annual % increase expressed as a decimal.
t = 2012 - 2000 = 12yrs.
rt = 0.017/yr * 12yrs = 0.204.
Pt = 100.35*10^6(1.204),
Pt = 120.8214*10^6 = 120,821,400 = population in 2012.
Thankyou so mjch for the help. The book says 122,848,204 ,but the problem says for me to estimate so basically anything close to it would work. Right? Like 120,821,400.
1 answer