SOLUTION: In 1990, the population of a twon was 32000 and was increasing at the rate of 3.2% per year Estimate the time for this town's population to double

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Question 107368: In 1990, the population of a twon was 32000 and was increasing at the rate of 3.2% per year
Estimate the time for this town's population to double
Answer by Annabelle1(69) About Me  (Show Source):
You can put this solution on YOUR website!
You can use a compound interest formula for this problem even though its not money but people>......
A=P%281%2Br%2F100%29%5En
where p is the initial population, r is the rate of increase and A is the final population. We want the time in years, n.
So we know that
64000=32000%281%2B3.2%2F100%29%5En
dividing through by 32000
2=%281.032%29%5En
take log of both sides
log2=nlog1.032
n=log2%2Flog1.032
n=22years