Using the formula of compounding a GP A P 1 fra... - SS2 Mathematics Sequence and Series Question
Using the formula of compounding (a GP) [ \(A = P{(1 + \frac{R}{100})}^{n}\) ] Calculate the population of the world in \(2010\) if the population in \(1990\) was \(5250\) million and the world experiences a growth rate of \(1.6\%\).
\[A = 5250{(1 + \frac{1.6}{100})}^{20}\]
\[A = 5250{(1 + 0.016)}^{20}\]
\[A = 5250{(1.016)}^{20}\]
\[A = 7212\]
Hence, there will be an estimated \(7212\) million people in 2010.
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