The population of Red Hook is growing at a rate of 3.5% per year. If it’s current population is 12,500, in how many years will the population exceed 20,000? Round your answer to the nearest year.
+36916 20 000 = 12 500 (1+.035)n solve for'n'
20 000/12500 = 1.035n
1.6 = 1.035n
log 1.6 / log 1.035 = n = 13.66 yrs ~~ 14 years
+36916 20 000 = 12 500 (1+.035)n solve for'n'
20 000/12500 = 1.035n
1.6 = 1.035n
log 1.6 / log 1.035 = n = 13.66 yrs ~~ 14 years
