Hi, suppose my country has a population of 1,782,893. Itsgrowth rate is 2.668%.

Question

Hi, suppose my country has a population of 1,782,893. Itsgrowth rate is 2.668%. What will the population be in 2012 using asimple equation: I know it starts out lie this but I need guidancefor the rest. Thank You. p=1,782,893 (2.7) (4)   is that even the rightway to start it?? Hi, suppose my country has a population of 1,782,893. Itsgrowth rate is 2.668%. What will the population be in 2012 using asimple equation: I know it starts out lie this but I need guidancefor the rest. Thank You. p=1,782,893 (2.7) (4)   is that even the rightway to start it??

Explanation / Answer

rLet p = population now in 2009. p=1,782,893. r=yearly growth rate = .02668 At end of year 2009 (year 1) popluation would have grown bythe product (p)(r) to p+pr or p(1+r). Now year two (2010), the population would havegrown by an amount r[p(1+r)] to p(1+r) + r[p(1+r)] = p(1+r)(1+r) = p(1+r)^2. Seethe pattern. Year 3 (2011) would be p(1+r)^3. So 2012 would be year 4 and the populationwould now be p(1+r)^4 =1,980,914

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