Question

The population of a town increases at the rate of 4% every year. if the present population of the town is 500000 compute the population of the town after 3 years.

note : please give the answer with steps.
good one I will mark as brainliest answer.

Answer 1

The answer for this is...........
Current population is 500000
Rate of increase=4% p.a
1st year=500000+4%of500000
=500000+20000=520000
2nd year=520000+4%of520000
=520000+20800=540800
3rd year=540800+4%of540800
=540800+21632=562432

Answer 2

Answer:

The population of the town after 3 years is 562432.

Step-by-step explanation:

The exponential growth function is defined as

$P=p_0(1+r)^t$

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

$P=500000(1+0.04)^3$

$P=500000(1.04)^3$

$P=562432$

Therefore the population of the town after 3 years is 562432.