This question is based on the concept of
amount of interest. Therefore, 22,234 would be
the population after 11 years, to the nearest
whole number.
Given:
A town has a population of 13000 and grows at
5% every year.
We need to determined the population after 11
years, to the nearest whole number.
We know that,
Formula =A = P(1+ r)
Where, p be the population. r is the rate and t is
the time.
P= 13000,
r= 5%
†= 11
Now put all these values in formula.
We get,
5
A = 13000(1 +
A
= 13000(1 + 0.05)11
A
= 1300022, 234.41(0.95)
