SOLUTION: 1. Suppose the population of Middletown is 56,000 and its population is increasing by 1/15 each year: A) How many people will reside in Middletown at the end of 5 years? B) How man

Question 439888: 1. Suppose the population of Middletown is 56,000 and its population is increasing by 1/15 each year: A) How many people will reside in Middletown at the end of 5 years? B) How many years will it take for the population to reach 75,000 people?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
1. Suppose the population of Middletown is 56,000 and its population is increasing by 1/15 each year: A) How many people will reside in Middletown at the end of 5 years?
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A(5) = 56000(1+(1/15))^5
A(5) = 77327
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B) How many years will it take for the population to reach 75,000 people?
75000 = 56000(1+(1/15))^t
1.3393 = (1+(1/15))^t
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Take the log and solve for "t":
t = 4.527 years
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Cheers,
Stan H.
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