Ng, in
-The Population of a Country in 2010 Was $0.804 \%$

question 261

Multiple Choice

ng, in
-The population of a country in 2010 was approximately 35 million with an annual growth rate of $0.804 \%$ . At this rate, the population $P ( t )$ (in millions) can be approximated by $P ( t ) = 35 ( 1.00809 ) ^ { t }$ where $t$ is the time in years since 2010 .
a. Evaluate $P ( 0 )$ and interpret its meaning in the context of this problem.
b. Evaluate $P ( 6 )$ and interpret its meaning in the context of this problem. Round the population value to the nearest million.

• A) a. The population increases by approximately 35 million in the first year.
• b. The population in 2,016 will be approximately 38 million more people.
• B) a. The initial population in 2010 was approximately 35 million.
• b. The population in 2,016 will be approximately 37 million.
• C) a. The population increases by approximately 35 million in the first year.
• b. The population in 2,016 will be approximately 38 million.
• D) a. The initial population in 2010 was approximately 35 million.
• b. The population in 2,016 will be approximately 37 million more people.

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Definitions:

Debits

Financial entries that represent an increase in assets or expenses or a decrease in liabilities, equity, or income on a company's balance sheet or income statement.

Credits

Entries in the accounting system that can decrease assets or increase liabilities and equity on a company’s balance sheet, reflecting the decrease in the company's resources or increase in claims against those resources.

Normal Balance

The side of an account where increases are recorded, which is the debit side for assets and expenses, and the credit side for liabilities, equity, and revenue.

Rent Expense

An expense account that records the cost incurred by a business to utilize property or equipment for operations.