A town has a population of 19000 and grows at 4.5% every year. To the nearest year, how long will it be until the population will reach 51600 ?
Round the result to the nearest year: 23 years
Step 1 :Use the exponential growth formula: Years=log(FinalPopulationInitialPopulation)log(1+GrowthRate)
Step 2 :Plug in the given values: Years=log(5160019000)log(1+0.045)
Step 3 :Calculate the result: Years≈22.6977
Step 4 :Round the result to the nearest year: 23 years