Please Help! Population Growth (1 Viewer)

[clareh08]

If in 2014, the Australias population was 23 246 692, with a growth rate of approximately 1.14%, what was the population in 2015?

Please help! What is the formula and how would you work out this question

 

[jamesh1234]

An annual growth rate of 1.14% means the population will be 100% (the base) + 1.14%(the growth) in the next year compared to the year before it. So your answer will be 23 246 692* 1.0114 = 23511704.

James Huang
Tutor of Math ext 1- 93 in 2014
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[BLIT2014]

A=P(1+R)^n
=23 246 692(1+1.14%)
=23511704.2888
=23511705 people.