Question

a town has a population of 5000 and grows at 3.5% every year. what will be the population after 15 years, to the nearest whole number?

Explanation:

Step1: Identify growth formula

This is exponential growth, use $P(t) = P_0(1 + r)^t$, where $P_0=5000$, $r=0.035$, $t=15$.

Step2: Substitute values into formula

$P(15) = 5000(1 + 0.035)^{15}$

Step3: Calculate the growth factor

First compute $1.035^{15} \approx 1.67534883$

Step4: Multiply by initial population

$5000 \times 1.67534883 \approx 8376.74$

Step5: Round to nearest whole number

Round $8376.74$ to the closest integer.

Answer:

8377