Question

If the population of Hillsborough County was 1.3 million in 2015 and the projected annual growth rate of the population is 3%, what would the projected population of the county be in 25 years? Round to the nearest hundredth.

Answer 1

2,721,911.31

Explanation:

The formula for Population growth rate is given as:

P(t) = Po(1 + r)^t

Where

Po = Initial population = 1,300000

P(t) = Population after t years

r = growth rate = 3%

t = time in years = 25

Hence,

P(25) = 1,300,000(1 + 0.03)^25

P(25) = 2,721,911.3086

P(25) Approximately = 2,721,911.31

The projected population of the county be in 25 years is 2,721,911.31