Problem 17
Question
The population in a city was approximately 750,000 in 1980 , and grew at a rate of \(3 \%\) per year. If the population growth followed an exponential growth model, find the city's population in the year 2002 .
Step-by-Step Solution
Verified Answer
Answer: The population in the city in 2002 was approximately 1,173,306.
1Step 1: Convert the growth rate to decimal
To convert the percentage growth rate to a decimal, divide the percentage value by 100:
\(r = \frac{3}{100} = 0.03\)
2Step 2: Calculate the number of years
Calculate the number of years that have elapsed from 1980 to 2002:
\(t = 2002 - 1980 = 22 \text{ years}\)
3Step 3: Plug values into the exponential growth formula
Now, we can plug the values we found into the exponential growth formula:
\(P(t) = P_0(1 + r)^t\)
\(P(22) = 750000(1 + 0.03)^{22}\)
4Step 4: Calculate the population in 2002
Now, compute the population in 2002:
\(P(22) = 750000(1.03)^{22} \approx 1173306\)
The population in the city in 2002 was approximately 1,173,306.
Key Concepts
Population GrowthGrowth Rate CalculationExponential Growth Formula
Population Growth
Population growth is an essential concept in understanding how a city's population changes over time. It refers to the increase in the number of people living in a particular area. Population growth can be influenced by various factors, such as birth rates, death rates, and migration.
In many cases, populations grow at a consistent rate, which can be either linear or exponential. Exponential growth is especially applicable when the growth rate is constant over time, resulting in a rapid increase as the population base becomes larger. Understanding the fundamentals of population growth helps us predict how quickly a city or region might expand over a given time frame, impacting infrastructure and resources.
In many cases, populations grow at a consistent rate, which can be either linear or exponential. Exponential growth is especially applicable when the growth rate is constant over time, resulting in a rapid increase as the population base becomes larger. Understanding the fundamentals of population growth helps us predict how quickly a city or region might expand over a given time frame, impacting infrastructure and resources.
Growth Rate Calculation
Calculating the growth rate is a critical step in predicting future populations. It allows us to understand how quickly a population is increasing. The growth rate is usually expressed as a percentage.
To convert this percentage into a decimal for use in calculations, simply divide it by 100. For example, if a city's population grows at a rate of 3% annually, the decimal equivalent would be 0.03.
- **To calculate growth rate in decimals:** - Use the formula: \[ r = \frac{\text{percentage rate}}{100} \]- Consistent growth rates can significantly impact future population projections, reflecting exponential growth patterns over the years.
To convert this percentage into a decimal for use in calculations, simply divide it by 100. For example, if a city's population grows at a rate of 3% annually, the decimal equivalent would be 0.03.
- **To calculate growth rate in decimals:** - Use the formula: \[ r = \frac{\text{percentage rate}}{100} \]- Consistent growth rates can significantly impact future population projections, reflecting exponential growth patterns over the years.
Exponential Growth Formula
The exponential growth formula is a powerful tool in calculating the future population of a city when the growth rate is constant over the years. It captures the idea that as the population base expands, each year the increment becomes larger, reflecting exponential growth.
The formula to calculate future population is:\[ P(t) = P_0(1 + r)^t \]Where:
- Initial population \( P_0 = 750,000\)- Growth rate \( r = 0.03\)- Number of years \( t = 22\)The calculation would show a significant increase in population, illustrating the power of exponential growth over extended periods.
The formula to calculate future population is:\[ P(t) = P_0(1 + r)^t \]Where:
- \( P(t) \) : future population after time \( t \)
- \( P_0 \) : initial population at the starting point
- \( r \) : growth rate expressed as a decimal
- \( t \) : time elapsed in years
- Initial population \( P_0 = 750,000\)- Growth rate \( r = 0.03\)- Number of years \( t = 22\)The calculation would show a significant increase in population, illustrating the power of exponential growth over extended periods.
Other exercises in this chapter
Problem 15
The sales of an item in a company follow an exponential growth/decay model, where \(t\) is measured in months. If the sales drop . from 5000 units in the first
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Find an equation of the curve that has a slope of \(\frac{2 y}{x+1}\) at the point ( \(x\), \(y\) ) and passes through the point (0,4) .
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Find a solution of the differential equation \(4 e^{y}=y^{\prime}-3 x e^{y}\) and \(y(0)=\) \(0 .\)
View solution Problem 19
How much money should a person invest at \(6.25 \%\) interest compounded continuously so that the person will have \(\$ 50,000\) after 10 years?
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