Question

The population of a town at present is 80,000. If the annual rate of increase is 4%, find the population after 4 years. (Use the formula: $A = p{\left( {1 + \dfrac{r}{{100}}} \right)^n}$, where p is the original population).

Hint: To find the new population, we are going to use the formula given to us by putting the values in the formula. In this question, p is 80,000, r is 4% and n is 4 years.

$A = p{\left( {1 + \dfrac{r}{{100}}} \right)^n}$
$A = 80000{\left( {1 + \dfrac{4}{{100}}} \right)^4}$
$A = 93588.685$
$A = 93589$