Question 888075
The population of Canada is currently estimated at 35 million. It grows annually at a rate of 
   1.2%. What is the expected population of Canada (in millions) in 15 years if it continues to 
   grow at this rate. Round your answer to 2 decimal places.[
Please solve fully ? 

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We'll use the formula {{{A = P(1+r)^t}}} where in this case {{{P = 35}}}, {{{r = 0.012}}} (decimal equivalent of 1.2%) and {{{t = 15}}}



Plug those values in to get



{{{A = P(1+r)^t}}}


{{{A = 35(1+0.012)^15}}}


{{{A = 35(1.012)^15}}}


{{{A = 35*1.195935}}}


{{{A = 41.857725}}}


{{{A = 41.86}}}



The population is projected to be at about <font color="red">41.86 million</font> (equivalent to approximately 41,860,000) in 15 years.