SOLUTION: For the last several year,the population of Mexico has grown by 1.2%, each year. In 2012, their population was 20.8 million A. Assuming the growth rate remains at 1.2%, write a

Question 1010188: For the last several year,the population of Mexico has grown by 1.2%, each year. In 2012, their population was 20.8 million
A. Assuming the growth rate remains at 1.2%, write a formula for finding Mexico's population P in the given year, Y. Make sure you define what each of your variables mean.
B. Assuming the growth rate remains at 1.2%, what will mexico's population be in 2030
Answer by fractalier(6550) (Show Source): You can put this solution on YOUR website!
We can write the population P (in millions) at any year in the future, Y, this way:

where t is the year in question...thus
P(2030) = 20.8*(1.012)^(2030-2012)
P(2030) = 20.8*(1.012)^18
P(2030) = 25.78 million people
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