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 at

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Question 251092: 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? Use a calculator to solve to x.
I get year one would be 108 and year two would be 116.64 and year three would be 125.9712 but I cannot get year n and the rest? Help?
Answer by ankor@dixie-net.com(22740) About Me  (Show Source):
You can put this solution on YOUR website!
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? Use a calculator to solve to x.
I get year one would be 108 and year two would be 116.64 and year three would be 125.9712 but I cannot get year n
:
You can use a equation similar to compound interest formula
:
P = 100*(1.08)^n
:
where n = the year