Given:
In 2000, the population was 6.08 billion
rate of increase = 1.5% per year
Required: The population in 2017
The formula for calculating population growth is:
[tex]y(t)\text{ = a\lparen1 + r\rparen}^t[/tex]
Where y(t) is the population at a later time t
a is the initial population
r is the annual rate of increase
and t is the number of years
For the given problem,
a = 6.08 billion
r = 1.5%
t = 17 years (2017-2000)
Substituting the given values into the formula:
[tex]\begin{gathered} y(t=17)\text{ =6,080,000,000\lparen1 + }\frac{1.5}{100})^{17} \\ =\text{ 7,831,163,611.683507} \\ \approx\text{ 7,831, 163, 611.7} \end{gathered}[/tex]
Hence, the population in 2017 should be 7831163611.7
