Each Year The Population Of Algeland Increases By 12%. The Population Is Currently 14,365,112. What Will The Population Be 20 Years From Now?

Each year the population of Algeland increases by 12%. The population is currently 14,365,112. What will the population be 20 years from now?

 

Answer:

The population of Algeland 20 years from now will be approximately 123,722,400.

Step-by-step explanation:

Geometric sequence/progression:

a_{n}=a_{1}(r)^{n-1}

Where:

n = number of terms  ⇒ n = 20 years

a₁ = first term  ⇒ 14,365,112

r = 1 + 12%  for annual increase rate ⇒  1.12

Solution:

a₂₀ = 14,365,112 (1.12)²⁰⁻¹

a₂₀ = 14,365,112 (1.12)¹⁹

a₂₀ = 14,365,112 (8.6127)

a₂₀ ≈ 123,722,400.1224  

a₂₀ ≈ 123,722,400


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