The population of a town increases at the rate of 4% every year. If the present population of the town is 500000, then the population of the town after 3 years is
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Step-by-step explanation:
The population of the town after 3 years is 562432.
Step-by-step explanation:
The exponential growth function is defined as
P=p_0(1+r)^tP=p0(1+r)t
Where, p₀ is the initial population, r is growth rate and is time in year.
Initial population(p₀) = 500000
Growth rate(r) = 4% = 0.04
Time(in years)t = 3
P=500000(1+0.04)^3P=500000(1+0.04)3
P=500000(1.04)^3P=500000(1.04)3
P=562432P=562432
Therefore the population of the town after 3 years is 562432.........
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