Question

solve the problem.
question
a city is growing at the rate of 0.7% annually. if there were 2,226,000 residents in the city in 1993, find how many (to the nearest ten - thousand) were living in that city in 2000. use $y = ab^{t}$ or $y = pe^{rt}$
select a single answer
6,010,000
2,340,000
290,000
2,370,000

Explanation:

Step1: Define variables for growth formula

Let $A=2,226,000$, $r=0.007$, $t=7$

Step2: Use annual growth formula

$y = A(1+r)^t$

Step3: Substitute values into formula

$y = 2226000(1+0.007)^7$

Step4: Calculate the growth factor

$(1.007)^7 \approx 1.0497$

Step5: Compute final population

$y \approx 2226000 \times 1.0497 \approx 2336632$

Step6: Round to nearest ten-thousand

$y \approx 2,340,000$

Answer:

2,340,000