In Many Cases, the Population of a Town Can Be

question 109

Short Answer

In many cases, the population of a town can be predicted using the same formula that is used to compute the balance of an account with interest compounded continuously. If a town has 14,850 citizens now, and grows at 4.5% per year, predict the population in 10 years to the nearest whole number. [Hint: in the formula for continuously-compounded interest, substitute the current population for the principal. The result (amount) will correspond to the new population.]

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