At the end of 2000, the population of a country was 22.4 million. Since then, the population has increased by 5.6 percent every year. What is the population, rounded to the nearest tenth, of the country at the end of 2037, 2037?
To calculate the population in 2037, we need three pieces of information: the original population, the multiplier, and the number of years. We will then multiply the original population by the multiplier to the power or exponent of the number of years.
The population in 2000 was 22.4 million. Therefore, this is the original population. The multiplier is 1.056, as the population is increasing by 5.6 percent every year. 100 percent, the original population, plus 5.6 percent gives us 105.6 percent. Converting this into a decimal gives us 1.056. The number of years is 37, as the initial population was in 2000 and we want to work out the population of the country in 2037.
Substituting the values into the formula or equation gives us a new population of 22.4 multiplied by 1.056 to the power of 37. Typing this into the calculator gives us a population in 2037 of 168.1949 million. We need to round our value to the nearest tenth. As the nine is greater than five, we round up, so that our population in 2037 is 168.2 million, to the nearest tenth. We could use this formula or equation to work out the population over a longer or even a shorter period in time.