The population after 15 years will be 9,133,000 people.
Further explanation:
The formula for population growth is given by:
[tex]P_n = P_0(1+r)^n[/tex]
Here,
P_n is the population to be calculated
P_0 is the initial population
r is the growth rate
and
n is the number of time periods.
As the population increases every 5 years,
So,
n = 15/5 = 3 time periods.
P_0 = 7250000
r = 8%
Putting the values in the formula
[tex]P_n = 7250000*(1+0.08)^3\\= 7250000* (1.08)^3\\= 9132912\ people[/tex]
The population can be rounded off to nearest thousand as 9133000 people.
Keywords: Population growth, prediction of population
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