Today Monday 3rd January we looked at predicting future population growth for various countries in the Americas. The formula is a simple one and students were taught how to use it. Each student will need to memorize it so they can use it from memory.
The formula is y=a*(1+b)n. The n in the formula is actually an exponent.
y = the population in the future (This is what we are solving for)
a = the initial population
b = rate of natural increase as a decimal
n = the number of years in the future
So we basically plug the numbers we have into the formula and then use a calculator to solve. Example, if the US has a population of 300,000,000 and a rate of natural increase of .58%. What will the population be in 7 years?
Answer: y = 300,000,000 * (1 + .0058)7 or y = 300,000,000 * 1.0058(7)
which is y = 312,393,993
Thanks.
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