SOLUTION: growth or decay formula how do you solve question in 1980 231 million was the population and its growing at a rate of 1.03% per year. Predict the pop. in the year 2025. How do y

Algebra ->  Logarithm Solvers, Trainers and Word Problems -> SOLUTION: growth or decay formula how do you solve question in 1980 231 million was the population and its growing at a rate of 1.03% per year. Predict the pop. in the year 2025. How do y      Log On


   

Question 243128: growth or decay formula
how do you solve question in 1980 231 million was the population and its growing at a rate of 1.03% per year. Predict the pop. in the year 2025. How do you solve and how do you put into the calculator?
Answer by ankor@dixie-net.com(22740) About Me  (Show Source):
You can put this solution on YOUR website!
In 1980 231 million was the population and its growing at a rate of 1.03% per year.
Change 1.03% to a decimal: .0103, for the finding the total, it will be 1.0103
:
P = 231(1.0103^t); where t is the number of years from 1980, p in millions
:
Predict the pop. in the year 2025.
P = 231(1.0103^45)
enter 231(1.0103^45) in to your calc, your answer will be in millions (336.3)