The population of a town is currently 25,000 people. If the population grows at a rate of 3% per year, what will be the population of the town in 5 years?

Question

Maramaria · Answer

how ever many times i reproduce :p

deadz · Answer

mhm

lilyneverexisted · Answer

the population of the town in 5 years will be approximately 28,982 people.

wio · Answer

So, when they say growing at a rate of 3%, how do we think of this math wise?

First, the 3% is just the amount it grows. To get the new value, we have to add the old amount (100%) to the amount it grows (3%). Thus the new amount is 100% + 3% = 103%.

Second, the % just means divide by 100, so $103\% = 103/100 = 1.03$.

Third, to have it grow 1 year, we multiply 1 time. To have it grow 2 years, we multiply 2 times. This multiplication multiple times is done with exponents. One year growth would be $25,000 (1.03)$ and five year growth would be $25,000(1.03)^5$.