one estimate of the worlds population on January 1, 2005 is 6,486,915,022. The population is estimated to be increasing at a rate of 1.4% per year. At this rate what will the world population be on January 24, 2024?

Question

one estimate of the worlds population on January 1, 2005 is 6,486,915,022.  The population is estimated to be increasing at a rate of 1.4% per year.  At this rate what will the world population be on January 24, 2024?

anonymous · Answer

that is 19 year later so take out a calculator and try 
$$6,486,915,000\times (1.014)^{19}$$

anonymous · Answer

do I use a simple interest equation to solve this or do I have to use a compound interest formula?  please help!

anonymous · Answer

compound

anonymous · Answer

please remind me of the formula that you used... i have other questions to solve like this.

anonymous · Answer

since it was given to you as "yearly" i used 
$$P=P_0(1+r)^t$$

anonymous · Answer

of course you have to write r as a decimal, not a percent