The population for a city is 39,194 and grows continuously at a rate of 6.9% each year. What is the approximate population in 17 years?
My answer is 121,854
3 answers
looks good
I don't get that ....
Population = 39194 e^(17*.069)
= 39194 e^1.173
= 39194*3.23167...
= appr 126,662
at just 6.9% compounded annually we would have
39164(1.069)^17 = 121,854 , which is your answer
you missed the part about "continuous" growth.
in questions such as population growth, the growth is taking place continuously, unlike a bank account where your balance "jumps" after certain interest periods.
Population = 39194 e^(17*.069)
= 39194 e^1.173
= 39194*3.23167...
= appr 126,662
at just 6.9% compounded annually we would have
39164(1.069)^17 = 121,854 , which is your answer
you missed the part about "continuous" growth.
in questions such as population growth, the growth is taking place continuously, unlike a bank account where your balance "jumps" after certain interest periods.
Thank you