The answer is:
The population in 2015 will be 1,412,415.
Since from the statement we know that the population is increasing, we know that we are working with an exponential growth problem.
We can calculate the exponential growth using the following equation:
[tex]Population(t)=StartPopulation(1+growthpercent)^{t}[/tex]
Where,
P, is the population after t (years, months, days or hours)
Start Population, is the starting population.
Growth percent, is the percent of growth
t, is the time elapsed (years, months, days or hours)
So, we are given the following information:
[tex]StartPopulation=478434\\\\GrowthPercent=7(percent)=\frac{7(percent)}{100}=0.07\\\\TimeElapsed=2015-1999=16years[/tex]
Now, substituting and calculating, we have:
[tex]Population(t)=StartPopulation(1+growthpercent)^{t}[/tex]
[tex]Population(t)=478434(1+0.07)^{16}=141241.5=1412415[/tex]
Hence, the population in 2015 will be 1,412,415.
Have a nice day!
