The world population in 2020 was 7.8 billion people with an…
The world population in 2020 was 7.8 billion people with an estimated annual growth rate is 1% per year. Assuming the world population follows an exponential growth model, find the projected world population for 2050. DIRECTIONS for SHOWING WORK: Part A (5 points)- State the formula you will use for this problem. For example: type “Formula C”. Part B (5 points)- Using EQUATION EDITOR, substitute the numbers into the formula and show all relevant calculation steps. It must be clear how you obtained your answer. Part C (5 points)- State your final answer written in a complete sentence in the context of the problem. Round your final answer to the first decimal place as needed. ________________________________________________________ Chapter 1 Growth Formulas Formula A: Pn=Pn-1+d{“version”:”1.1″,”math”:”Pn=Pn-1+d”} Formula B: Pn=P0+d*n{“version”:”1.1″,”math”:”Pn=P0+d*n”} Formula C: Pn=(1+r)*Pn-1{“version”:”1.1″,”math”:”Pn=(1+r)*Pn-1″} Formula D: Pn=(1+r)n*P0{“version”:”1.1″,”math”:”Pn=(1+r)n*P0″} Formula E: Pn=Pn-1+r*1-Pn-1K*Pn-1{“version”:”1.1″,”math”:”Pn=Pn-1+r*1-Pn-1K*Pn-1″}
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