SOLUTION: Then the mortality rate, birth rate, and migration rate are calculated for a certain town, it is found that the population increases at 8% per annum. If the population is 60,000 t

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Question 202752: Then the mortality rate, birth rate, and migration rate are calculated for a certain town, it is found that the population increases at 8% per annum. If the population is 60,000 today, calculate the population five years ago.
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
It is found that the population increases at 8% per annum. If the population is 60,000 today, calculate the population five years ago.
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Let the population 5 years ago be "x".
Equation:
x(1.08)^5 = 60000
x = 60000/(1.08)^5
x = $40.834.99
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Cheers,
Stan H.