Question
Asked Feb 10, 2020
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A​ country's populations in 2001and 2011 are given below. Use this information and the exponential model A=P(1+r)find the growth rate for the country over this period.

​population(2001​)= 74 ​million
population(2011)= 101 million
 
The​ country's growth rate was approximately ___​%?
(Round to two decimal places as needed)
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Expert Answer

Step 1

 

Exponential growth formula is

Algebra homework question answer, step 1, image 1

Step 2

Let n represents the number of years since 2001 , when n=0 the the value of A is 72 million

Algebra homework question answer, step 2, image 1

Step 3

Use the value of A_0=74  and find the value of ‘r’. In 2011 the population is 101 million

The value of n=10 in 2011

Algebra homework question answer, step 3, image 1

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Algebra

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