A country's population in 1994 was 76 million. In 1998 it was 81 million. Estimate the population in 2016 using the exponential growth formula. Round your answer to the nearest million.

P (t) = population in year t ... where t = number of years since 1998

- - - 1998 gives t = 0 - - - 1998 gives t = 4

P (t) = P (0) e^ (kt)

P (4) = 81 = 76 e^ (4k)

e^ (4k) = 81/76

4k = ln (81/76)

k = (1/4) ln (81/76) ~ 0.01592895

2016 ... t = 22

P (t) = P (0) e^ (kt)

P (22) = 76 e^ (0.01592895 (22))

P (22) = 107.896 million