For a village, the population P grows at arate of 1.6 % per year. The formula P= 3650 (1 + r) models the village's population t years after 2018, wherer is the rate of population growth. What will the population be in the year 2022?

For a village, the population P grows at arate of 1.6 % per year. The formula P= 3650 (1 + r) models the village's population t years after 2018, wherer is the rate of population growth. What will the population be in the year 2022?

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter5: Investment Decisions: Look Ahead And Reason Back

Section: Chapter Questions

Problem 8MC

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Question

For a village, the population P grows at a rate of 1.6 % per year. The formula P = 3650 (1 + r)
models the village's population t years after 2018, wherer is the rate of population growth. What
will the population be in the year 2022?

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