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The population of a city increases by 0.8% per year. If this year's population is
108,000, what will next year's population be, to the nearest individual?

Sagot :

[tex]\qquad \textit{Amount for Exponential Growth} \\\\ A=P(1 + r)^t\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{initial amount}\dotfill &108000\\ r=rate\to 0.8\%\to \frac{0.8}{100}\dotfill &0.008\\ t=\textit{elapsed time}\dotfill &1\\ \end{cases} \\\\\\ A=108000(1 + 0.008)^{1}\implies A=108000(1.008)\implies A=108864[/tex]

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