Question

In 1995, a certain city had a population of 45,000. If the population continues to increase by 3.5% each year, what is the estimate of the population in the year 2020?

Answer 1

each year the population of the city increases for 45000 * 0.035 people and becomes 45000+45000(0.035)

or 45000(1+0.035) people in total for the 25 years (2020 - 1995 = 25) the total population of the city will be;

45000(1 + 0.035) or 45000(1.035)^25 = 45000(2.363) = 106335 people approx