Question

A Town has a population of 20000 and grows at 4% every year. What will be the population after 6 years? To the nearest whole number

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 &20000\\ r=rate\to 4\%\to (4)/(100)\dotfill &0.04\\ t=years\dotfill &6\\ \end{cases} \\\\\\ A=20000(1 + 0.04)^(6) \implies A=2000(1.04)^6\implies A \approx 25306`