The population of a certain country was 2.7 million in 1990 and 3.6 million in 2010. Find the annual growth rate. In what year will the population reach 5 million? (Assuming the rate remains the same)

The population of a certain country was 2.7 million in 1990 and 3.6 million in 2010. Find the annual growth rate. In what year will the population reach 5 million? (Assuming the rate remains the same)

College Algebra (MindTap Course List)

12th Edition

ISBN:9781305652231

Author:R. David Gustafson, Jeff Hughes

Publisher:R. David Gustafson, Jeff Hughes

Chapter8: Sequences, Series, And Probability

Section8.4: Geometric Sequences And Series

Problem 6SC

See similar textbooks

Related questions

Q: The population of the world in 1987 was 5 billion and the annual growth rate was estimated at 2…

A: The exponential growth model is defined as, y = a(1 + r)t, where a is the initial amount, r is the…

Q: Assume the revenue in the year 2000 was $ 800,000, and in the year 2002 it was $ 600,000. Assuming…

A: We will use exponential growth/decay formula to find expected revenue

Q: The amount of a certain antibiotic that remains in thr bloodstream of a patient exhibits exponential…

A: Consider the amount of a certain antibiotic which remains in the bloodstream of a patient exhibits…

Q: The population of a Midwestern city decays exponentially. If the population decreased from 900,000…

A: To find - Population in 2008.

Q: The population of the world in 1987 was 5 billion and the annual growth rate was estimated at 2…

Q: In 1626, Peter Minuit convinced the Wappinger Indians to sell him Manhattan Island for $24. If the…

A: To find accumulated balance in the year 2010 if interest were compounded monthly; Using compound…

Q: The population of the world in 1987 was 5 billion and the annual growth rate was estimated at 2…

A: Given , The population of the world in 1987 was 5 billion and the annual growth rate was estimated…

Q: If the population of a certain city was 100,000 in 1996 and 110,381 in 2006, and if the population…

A: Given that: Population of city = 100, 000 in 1996 and Population of city = 110, 381 in 2006. Also,…

Q: The population of the city is declining according to the exponential law. if the population went…

A: To find the population in 2022

Q: A house purchased for $162,400 gains 5% of its value every year. If this growth rate continues, in…

Q: An investment income of $50,000 increases at a rate of 8.3% per year. Find the value of the…

A: Given query is to find the value of the investment after 20 years.

Q: Jocelyn invested $56,000 in an account paying an interest rate compounded continuously. Oliver…

A: JocelynA=P1+R12002Twhere A=amount, P=principal amount, R=rate of intereset and T=time…

Q: $1000 is invested at 6% compounded yearly. According to the rule of 72, how many years will it take…

A: We can find the required time period as below.

Q: Kathy bought a car for $21,000, and each year it depreciates at a rate of 12%. Write an exponential…

Q: The population of a town with a 2016 population of 97,000 grows at a rate of 2.2% per year.

Q: A 20% compounded quarterly has an equivalent rate of 3.9804%, how many times does it pay every year?…

Q: ecide at what rate compounded monthly will 800 become 4200 for 1

A: Introduction: Compound interest is interest that is compounded at regular intervals on both…

Q: Complete the table below using the exponential growth formula. Original Growth Rate per Amount Year…

A: We can answer the question as below.

Q: If an investment has an interest rate of 3.75%, compare the amount of time it will take for the…

Q: If the population of a certain county was 100,000 in 1998 and 110,403 in 2008, and if the population…

Q: The population of an Ontario town grew from 1250 to 10,000 in 5 years due to the establishment of a…

A: The population of a city grows exponentially. Suppose that initially the population is P. If the…

Q: Back in 1997, Palto Town had a population of 10,000 residents. Ten years later, the population grew…

Q: If the population of a certain city was 100,000 in 1996 and 110,643 in 2006, and if the population…

Q: During a certain period of time, a population of 70 northern sea otters had an annual growth of 18%.…

Q: Because of an economic slump, a company finds that its annual profits have dropped from 700 thousand…

A: First we shall find profit function with setting intial time 2006

Q: State whether the following statement is true or false, and explain why. If the statement is…

A: Given ,the economy shrank at an annual rate of 9% Let the economy=P∴ economy after four…

Q: The population of a certain city was 118,000 in 1994, and the observed relative growth rate is 3%…

A: Given The population of a certain city was 118,000 in 1994, and the observed relative growth rate is…

Q: The town of Diamond Wish, which initially had 20 000 people, began to experience an exponential…

Q: The interest rate for an investment under $4000 is 5.25%, compounded monthly. a) If $3700 is…

Q: Pretend the world's population in 1989 was 4.3 billion and that the projection for 2014, assuming…

Q: A jet ski that costs $13,200 when new will have no salvage value after 6 years. Find its annual rate…

A: A jet ski that costs $13,200 when new will have no salvage value after 6 years. Formula: Rate of…

Q: The half-life of a certain tranquilizer in the bloodstream is 41 hours. How long will it take for…

A: The half-life of a certain tranquilizer in the bloodstream is 41 hours. Use the given exponential…

Q: Ask Your Teacher If the rate of growth of a population continues at 3%, in how many years will…

A: Given that growth rate =3%= 0.03 So, growth factor = 1+0.03=1.03 Let, y= population after t years.…

Q: The population of Urithiru in 2005 was 14,753. Given a growth rate of 1% per year, determine the…

Q: Complete the table below using the exponential growth formula. Original Growth Rate per Amount Year…

A: Follow the procedure given below.

Q: A house purchased for $199,500 gains 2% of its value every year. If this growth rate continues, in…

A: A=P(1+r)t

Q: The population of the world in 1987 was 5 billion and the annual growth rate wa percent per year.…

A: detailed solution is given below

Q: t what monthly compounded interest rate does it take five years for an investment to quadruple?

A: Compound interest formula is given by A = P(1+rn)nt where P = principal…

Q: A house purchased for $20,000 at an interest rate of 2% and was just sold for $60,000. Assuming…

Q: 2. In the midyear of 2020, a country's population is 109,581,078 with a growth rate of approximately…

A: Current population (in mid 2020) of a country is 109,581,078 Growth rate is 1.35% then to find the…

Q: A Math 110 student decides to make quarterly payments of $1,000 into a retirement account paying 2%…

A: Given data : Quaterly payments of $ 1,000 i.e P = $ 1,000 x 4 = $ 4,000 ( yearly) rate of interest =…

Q: The population of the world in 1987 was approximately 5 billion and the annual growth rate was…

A: Given data: The population of the world in 1987 is P0=5 billion. The annual growth rate is…

Q: A 3% compounded bi-monthly has an equivalent rate of 1.508%,how many times does it pay every year? O…

Q: You paid $10,000 for a car whose value is depreciating by 14% per year, compounded annually.…

A: Given,Principle = $10000Interest rate = 14%Time period =3 years

Q: In 2003 the United Nations estimated that the population of Ethiopia was about 70.7 million, with an…

A: Given data: The given population of Ethiopia is C=70.7 million. The given annual growth rate is…

Q: A jet ski that cost $14,600 when new will have no salvage value after 5 years. Find its annual rate…

A: Annual rate of depreciation can be calculated using straight line depreciation. Annual rate of…

Q: If the population of a certain county was 100,000 in 1998 and 110,625 in 2008, and if the population…

Q: The population of a town is increasing by 636 people per year. State whether this growth is linear…

Q: Darren accumulated $9,000 in credit card debt. If the interest rate is 4.1% per year and he does not…

Q: A particular city had a population of 23,000 in 1910 and a population of 28,000 in 1950. Assuming…

Question

Expert Solution

Step 1

Step by step

Solved in 2 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Similar questions

On the day a grandchild is born, a grandparent deposits $2500 in a fund earning 7.5% interest, compounded continuously. Determine the balance in the account on the grandchild’s 25th birthday.
An investment account was opened with aninitial deposit of 9,600 and earns 7.4 interest,compounded continuously. How much will theaccount be worth after 15 years?
What interest rate would you need to get to double an investment of 200 in eight years?
Alyssa opened a retirement account with 7.25 APRin the year 2000. Her initial deposit was 13,500. How much will the account be worth in 2025 if interest compounds monthly? How much more wouldshe make if interest compounded continuously?
Researchers recorded that a certain bacteria population declined from 700,000 to 400,000 in 5 hours after the administration of medication. At this rate of decay, how many bacteria will there be 24 hours from the start of the experiment?
What is the total effect on the economy of a government tax rebate of $1,000 to each household in order to stimulate the economy if each household will spend 90% of the rebate in goods and services?