a town has a population of 16000 and grows at 4.5% every year. what will be the population after 8 years, to…

Explanation:

Step1: Recall the compound growth formula

The formula for compound growth is ( P(t)=P_0(1 + r)^t ), where ( P_0 ) is the initial population, ( r ) is the growth rate (in decimal), ( t ) is the time in years, and ( P(t) ) is the population after ( t ) years.

Step2: Identify the values

Here, ( P_0 = 16000 ), ( r = 4.5%=0.045 ), and ( t = 8 ).

Step3: Substitute the values into the formula

Substitute the values into ( P(t)=P_0(1 + r)^t ): ( P(8)=16000\times(1 + 0.045)^8 ) First, calculate ( 1 + 0.045 = 1.045 ). Then, calculate ( 1.045^8 ). Using a calculator, ( 1.045^8\approx1.422108 ). Now, multiply by 16000: ( 16000\times1.422108\approx22753.73 ).

Step4: Round to the nearest whole number

Rounding ( 22753.73 ) to the nearest whole number gives ( 22754 ).

Answer:

22754