Rounded to the Nearest Month, How Long Will It Take

question 164

Short Answer

Rounded to the nearest month, how long will it take a town's population to grow from 32,500 to 40,000 if the annual growth rate is 3%?

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Definitions:

Revenue Bonds

Bonds issued by governments or municipalities that are intended to be repaid with revenue from a specific project or source, such as a toll road or public utility.

General Obligation Bonds

Long-term loans issued by municipalities that are backed by the general tax revenue of the municipality rather than revenue from a specific project.

Indirect Transfer

The movement of goods or services through an intermediary before reaching the final consumer, rather than a direct transaction from producer to consumer.

Treasury Bills

Short-term government securities issued at a discount from the face value, maturing in one year or less, used as a tool for managing national finance.