SOLUTION: Solve the problem. Use the formula N = Iekt, where N is the population at time t, I is the initial population, and k is a growth constant equal to the percent of growth (expressed

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Question 600561: Solve the problem. Use the formula N = Iekt, where N is the population at time t, I is the initial population, and k is a growth constant equal to the percent of growth (expressed in decimal form) per unit of time. How long will it take for the population of a certain country to double if its annual growth rate is 7.7%? Round your answer to the nearest year.
Answer by jim_thompson5910(35256)   (Show Source): You can put this solution on YOUR website!
First off, let's use the fact that the population is growing at an annual rate of 7.7% to find the value of k.

If the initial population is say 1000 people, then in one year, we add 7.7% of that 1000 to the initial population to get: 1000 + 0.077*1000 = 1000 + 77 = 1077


So I = 1000 and N = 1077. This all happens in one year, so t = 1. Use these three variables to find k

























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Now that you know the value of k, use it to find the value of t when I = 1000, N = 2000 (double the population of the initial 1000)


























So it will take roughly 9.3442 years for the population to double.
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