Question

A town has a population of 14000 and grows at 5% every year.What will be the population after 14 years, to the nearest whole number?

a) 21,900
b) 21,901
c) 21,902
d) 21,903

Answer 1

The population after 14 years will be approximately 21,901.

Step-by-step explanation:

To calculate the population after 14 years, we can use the formula for compound interest:

P = P0 * (1 + r)t

Where P is the final population, P0 is the initial population, r is the growth rate, and t is the number of years. In this case, P0 = 14000, r = 0.05, and t = 14. Plugging these values into the formula:

P = 14000 * (1 + 0.05)14

Calculating this expression, we find that the population after 14 years would be approximately 21,901. Therefore, the answer is option b) 21,901.