SOLUTION: The population of Canada is currently estimated at 35 million. It grows annually at a rate of 1.2%. What is the expected population of Canada (in millions) in 15 years if it c

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Question 888075: The population of Canada is currently estimated at 35 million. It grows annually at a rate of
1.2%. What is the expected population of Canada (in millions) in 15 years if it continues to
grow at this rate. Round your answer to 2 decimal places.[
Please solve fully ?

Answer by jim_thompson5910(35256) About Me  (Show Source):
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The population of Canada is currently estimated at 35 million. It grows annually at a rate of
1.2%. What is the expected population of Canada (in millions) in 15 years if it continues to
grow at this rate. Round your answer to 2 decimal places.[
Please solve fully ?
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We'll use the formula A+=+P%281%2Br%29%5Et where in this case P+=+35, r+=+0.012 (decimal equivalent of 1.2%) and t+=+15


Plug those values in to get


A+=+P%281%2Br%29%5Et

A+=+35%281%2B0.012%29%5E15

A+=+35%281.012%29%5E15

A+=+35%2A1.195935

A+=+41.857725

A+=+41.86


The population is projected to be at about 41.86 million (equivalent to approximately 41,860,000) in 15 years.