Question

The population of Suka is currently 34.88 million people. Suka's current growth rate is 1.1% per year. What will Suka's population be in 5 years?

Answer 1

Let's use the compound interest formula:

`A=P(1+(r)/(100))^t`

Being P the initial amount, r the rate, and t the time

Replacing

`\begin{gathered} A=34.88(1+(1.1)/(100))^5 \\ \\ A=36841072 \end{gathered}`

Answer: The population will be 36841072