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Assuming that a country’s population is now 3 million and is growing exponentially with growth constant 0.02, what will be the average population during the next 50 years?

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Using the exponential growth principle, the population of the country in the next 50 years would be 8074764.08722

The exponential growth can be modeled using the relation :

  • [tex] f(t) = A(1 + r)^{t} [/tex]

  • A = initial population value = 3,000,000
  • r = growth rate = 0.02
  • t = time = 50 years

Substituting the values into the equation, we'll have :

[tex] f(50) = 3000000(1 + 0.02)^{50} [/tex]

[tex] f(50) = 3000000(1.02)^{50} [/tex]

[tex] f(50) = 3000000(2.6915880...) [/tex]

= 8074764.08722

Therefore, the population in the next 50 years would be 8074764.08722

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