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a town has a population of 4000 and grows 2% every year. to the nearest year, how long will it be until the population will reach 6400?

 Sep 1, 2020
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Future Population =FP

Present Population=PV

 

FP =PV x [1 + R]^N, where R=Rate of growth, N= Number of Periods.

6400 = 4000 x 1.02^N

6400/4000 = 1.02^N

1.6 = 1.02^N             Take the log of both sides

N =Log(1.6) / Log(1.02)

N =23.73 =~24 Years for town's population to grow from 4000 to 6400.

 Sep 1, 2020

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