Question

Can I get a little help on the problem?

The bear population increases at a rate of 3% each year. There are 1462 bears this year. How many bears will there be in 10 years?


A.) 1506


B.) 2024


C.) 1598


D.) 1965

Answer 1

This question explores something known as exponential growth, and is often used to determine compound interest after a period of time.

We can use equation

y = xr^n

Where y is the value after n years, x is the initial value and r is the percentage growth each year.

By substituting

1462 * 1.03^10

We get a value that rounds to 1965, so your answer is D.

I suggest you look at exponential growth and decay on khanacademy, they explain it very well!