SOLUTION: Using the A = Pe^rt formula The population of a town is presently about 25,000 people, and is growing at a rate of 3% peryear. How long will it take for the population to reach

Question 980759: Using the A = Pe^rt formula
The population of a town is presently about 25,000 people, and is growing at a rate of 3% peryear. How long will it take for the population to reach 40,000 people?
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
Using the A = Pe^rt formula
The population of a town is presently about 25,000 people, and is growing at a rate of 3% peryear. How long will it take for the population to reach 40,000 people?
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40000 = 25000*e^(0.03t)
e^(0.03t) = 40000/25000 = 1.6
0.03t = ln(1.6)
t = ln(1.6)/0.03
t =~ 15.667 years
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