SOLUTION: A city has a population of 330000 people. Suppose that each year the population grows by 8.5%. What will the population be after 15 years?
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Question 1209205: A city has a population of 330000 people. Suppose that each year the population grows by 8.5%. What will the population be after 15 years?
Answer by greenestamps(13200) (Show Source): You can put this solution on YOUR website!
If the population INCREASES by 8.5% = 0.085 each year, then the population gets MULTIPLIED by a FACTOR of 1+.085 = 1.085 each year. Since that is the growth factor each year, after n years the population will have grown by a factor of (1.085)^n.
ANSWER: (330000)*(1.085)^15 = 1,121,915
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