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26 June, 21:34

The population of a town is 500,000 in 1990. The population increases at a rate of 5% every five years. What will be the approximate population of the town in 2005?

A. 578,813

B. 587,712

C. 499,354

D. 512,945

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Answers (1)
  1. 27 June, 01:27
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    A = P (1+r) ^ (t/5) A = 500000 (1+0.05) ^ (15/5) A = 500000 (1.05) ^ (15/5) A = 500000 (1.05) ^3 A = 500000*1.157625 A = 578812.5 Telling us that the population will be about 578,812 people in the year 2005
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