Math Problem Statement

If a country has an annual growth rate of 2.2% and the size of the country is 10.2 million people in 2023, what will be the projected population in 15 years?

Solution

To project the population in 15 years using an annual growth rate, we can use the formula for exponential growth:

P(t)=P0×(1+r)tP(t) = P_0 \times (1 + r)^t

Where:

  • P(t)P(t) is the population after tt years.
  • P0P_0 is the initial population (10.2 million).
  • rr is the annual growth rate (2.2% or 0.022).
  • tt is the number of years into the future (15 years).

Substituting the values:

P(15)=10.2×(1+0.022)15P(15) = 10.2 \times (1 + 0.022)^{15}

Let's calculate that.

The projected population after 15 years, given an annual growth rate of 2.2%, will be approximately 14.14 million people.

Would you like more details or have any questions?

Here are 5 related questions for further exploration:

  1. What would the population be after 20 years instead of 15?
  2. How would the projection change with a different growth rate, such as 3%?
  3. How long would it take for the population to double at a 2.2% growth rate?
  4. How would the calculation differ if the growth rate varied each year?
  5. How would immigration or emigration impact these projections?

Tip: The exponential growth formula assumes a constant growth rate; if the rate fluctuates, more complex models might be needed.

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Math Problem Analysis

Mathematical Concepts

Exponential Growth
Algebra

Formulas

P(t) = P0 × (1 + r)^t

Theorems

Exponential Growth Model

Suitable Grade Level

Grades 10-12