Question #5
Given:
The number of people who own computers has increased 23.2% annually since 1990
In 1990: the number of people who own computers = half a million
We will predict the number of people in 2015
We will use the following formula:
[tex]P(t)=P_o\cdot(1+r)^t[/tex]
Where: (r) is the ratio of increasing = 23.2% = 0.232
And (t) the number of years after 1990
And Pā is the initial value of the number of people
P(t) will be the number of people after (t) years
To predict the number of people in 2015
t = 2015 - 1990 = 25 years
so,
[tex]\begin{gathered} P=0.5\cdot(1+0.232)^{15} \\ P=0.5\cdot1.232^{15}\approx11.43\text{ millions} \end{gathered}[/tex]
So, the answer will be:
The estimated number of people = 11.43 million
