how long will it take for the population of a certain country to triple if its annual growth rate is 3.9%?
The amount of time that it takes a population to triple if the growth rate is 3.9%:
Use the compound interest formula: A = Per·t
A = final amount P = initial amount r = rate (as a decimal) t = time
---> Let the initial amount = x, then the final amount will be 3x r = 0.039 time = t
---> 3x = x·e0.039·t
Divide both sides by x:
---> 3 = e0.039·t
Take the ln of both sides:
---> ln(3) = ln( e0.039·t )
Using the appropriate property of logs:
---> ln(3) = 0.039 · t · ln( e )
Since the ln(e) = 1:
---> ln(3) = 0.039·t
Divide both sides by 0.039:
---> t = ln(3) / 0.039 = 28.17 years (approximately) or 28 years, 2 months
#1 geno3141 has calculated the population using 3.9% compounded continuously. However, the question says the " annual growth rate is 3.9%", which implies "annual compound", since the compounding period is not explicitly stated. Based on this, we can calculate the number of years slightly differently:
FP=PP (1.039)^N: FP=Future population, PP=Present population.
3=1(1.039)^N take the Log of both sides
N=Log(3) / Log(1.039)
N=28.72, or about 28 years and 9 months