SOLUTION: For the last several year,the population of Mexico has grown by 1.2%, each year. In 2012, their population was 20.8 million A. Assuming the growth rate remains at 1.2%, write a

Algebra ->  Probability-and-statistics -> SOLUTION: For the last several year,the population of Mexico has grown by 1.2%, each year. In 2012, their population was 20.8 million A. Assuming the growth rate remains at 1.2%, write a       Log On


   



Question 1010188: For the last several year,the population of Mexico has grown by 1.2%, each year. In 2012, their population was 20.8 million
A. Assuming the growth rate remains at 1.2%, write a formula for finding Mexico's population P in the given year, Y. Make sure you define what each of your variables mean.
B. Assuming the growth rate remains at 1.2%, what will mexico's population be in 2030

Answer by fractalier(6550) About Me  (Show Source):
You can put this solution on YOUR website!
We can write the population P (in millions) at any year in the future, Y, this way:
P%28Y%29+=+20.8%2A%281.012%29%5E%28Y+-+2012%29
where t is the year in question...thus
P(2030) = 20.8*(1.012)^(2030-2012)
P(2030) = 20.8*(1.012)^18
P(2030) = 25.78 million people