SOLUTION: Suppose a population of initial size 100 grows at the rate of 8% per year forever.
What is the size of the population at the end of year 1?
What is the size of the population
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-> SOLUTION: Suppose a population of initial size 100 grows at the rate of 8% per year forever.
What is the size of the population at the end of year 1?
What is the size of the population
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Question 192107: Suppose a population of initial size 100 grows at the rate of 8% per year forever.
What is the size of the population at the end of year 1?
What is the size of the population at the end of year 2?
What is the size of the population at the end of year 3?
What is the size of the population at the end of year n (for any integer n)?
What algebraic equation would you need to solve to find the number of years x that it would take for our population to reach 200? Answer by RAY100(1637) (Show Source):
You can put this solution on YOUR website! A=P(1+r)^t
1) A(1) = 100(1.08)^1= 108
2) A(2)= 100(1.08)^2=116.64
3) A(3)= 100(1.08)^3=125.97
4) A(n)=100(1.08)^n
5) 200=100(1.08)^n
divide both sides by 100
2=(1.08)^n
log both sides
log2 =log (1.08)^n=n*log(1.08)
divide both sides by log(1.08) and simplify
(log(2))/(log(1.08))= 9.006=n
check
200=100log(1.08)^9.006= 200 ok
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