Question

The population for a city is 83,461 and grows continuously at a rate of 6.2% each year. What is the approximate population in 27 years?
445,136
423,492
443,222
139,714 <- my answer
The number of customers visiting a local business is 48,961 and has been continuously declining at a rate of 2.5% each year. What is the approximate number of customers in 13 years?
33,049
35,230
35,376 <- my answer
67,764

Answer 1

@TheSmartOne @phi

Answer 2

how did you do the first problem ?

Answer 3

Please, post only one problem at a time, to reduce confusion regarding your immediate goals.

Secondly, please show your work if you want feedback on it; your sharing your answer alone doesn't tell the potential helper much.

The population for a city is 83,461 and grows continuously at a rate of 6.2% each year. What is the approximate population in 27 years?
445,136
423,492
443,222
139,714 <- my answer

This is exponential growth. The appropriate formula is \[A=Pe ^{rt}\]

Answer 4

where r is a decimal fraction representing the annual growth rate, P is the original population, t is the number of years and A is the (increased) population after t years.

Try again, showing all steps you take.