Question

A town has a population of 13000 and grows at 4.5% every year. What will be the population after 13 years?

Answer 1

`\qquad \textit{Amount for Exponential Growth} \\\\ A=P(1 + r)^t\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{initial amount}\dotfill &13000\\ r=rate\to 4.5\%\to (4.5)/(100)\dotfill &0.045\\ t=years\dotfill &13 \end{cases} \\\\\\ A = 13000(1 + 0.045)^(13) \implies A = 13000( 1.045 )^(13)\implies A \approx 23038`