Question

One estimate of the population of the world on January 1, 2005, is

6,486,915,022. The population is estimated to be increasing at the rate of
1.4% per year. At this rate, what will the population of the world be on January
1, 2025? Round your answer to the nearest whole number.

Answer 1

8,566,379,470 people

Explanation:

Let's start simple. In order to find the population increase on January 1, 2006, we need to multiply 6,486,915,022 by 1.4% and add it to 6,486,915,022.

1. 6,486,915,022*1.4% = 90,816,810.308
2. 90,816,810.308+6,486,915,022 = 6,577,731,832.31 people on January 2006.

Note that the above two steps gives the same answer as 6,486,915,022*1.014.

So we need to do this for each year. 20 years pass between 1/1/2005 and 1/1/2025.

We need to do 6,486,915,022*1.014*1.014*1.014... 20 times.

This is equivalent to
`6,486,915,022*1.014^(20)`.

Multiplying it out gives us 8566379470.2 = 8,566,379,470 people.