Question

According to the U.S Census Bureau, the population of the United States in 2016 was 324 million people. The rate of growth in population was 0.8% per year assume that this growth rate remains the same through 2030. What would you predict the U.S population to bd in 2030 (in millions of people)? (Round to the nearest million.)

Answer 1

The population growth formula is given by

`P=P_o(1+r)^t`

Where P₀ is the initial population, r is the growth rate in decimal, and t is the time in years.

P₀ = 324 million

r = 0.8% = 0.008

t = 2030 - 2016 = 14 years

Let us substitute these values into the above formula

`\begin{gathered} P=P_o(1+r)^t \\ P=324_{}(1+0.008)^(14) \\ P=324_{}(1.008)^(14) \\ P=362\; \text{million} \end{gathered}`

Therefore, the predicted U.S population in 2030 is 362 million

(Rounded to the nearest million)