SOLUTION: If the population of a town is 32,000 in the year 2013, with a growing rate of 1.2 percent per year, when will the population reach 40,000 & what will the population be in 2020

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Question 971492: If the population of a town is 32,000 in the year 2013, with a growing rate of 1.2 percent per year, when will the population reach 40,000 & what will the population be in 2020
Answer by CubeyThePenguin(3113) About Me  (Show Source):
You can put this solution on YOUR website!
Let x be the number of years that have passed.

32,000(1.012)^x = 40,000
x = 18.7066

The population reaches 40,000 in 2031.

In 2020, x = 7.

32,000(1.012)^7 = 34,786