Suppose a city with population 500,000 has been growing at a rate of 6% per year. If this rate continues, find the population of this city in 18 years

The population in 18 years will be approximately

(Round to the nearest whole number as needed.)

Step-by-step explanation:

The city has been growing at a rate of 6% per year. If this rate continues, then the growth rate is exponential. We would apply the formula for exponential growth which is expressed as

A = P (1 + r) ^t

Where

A represents the population after t years.

t represents the number of years.

P represents the initial population.

r represents rate of growth.

From the information given,

P = 500,000

t = 18 years

r = 6% = 6/100 = 0.06

Therefore,

A = 500000 (1 + 0.06) ^18

A = 500000 (1.06) ^18

A = 1427170 to the nearest whole number.

1,427, 170 when rounded

Step-by-step explanation:

Take 6% fo 500,000 which is

500000 x 0.06 = 30000

530000 x 0.06 = 31800

561800 x 0.06 = 33708

Etc, etc.

You keep going like that

And do it 18 times, and you'll have your answer.