Subjects algebra

Population Growth E95399

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1. **State the problem:** We want to predict the population of Rexburg in 2028 given the population in 2023 and an annual growth rate. 2. **Formula used:** The population growth can be modeled by the exponential growth formula: $$P(t) = P_0 (1 + r)^t$$ where: - $P(t)$ is the population after $t$ years, - $P_0$ is the initial population, - $r$ is the growth rate per year (as a decimal), - $t$ is the number of years after the initial time. 3. **Identify values:** - Initial population $P_0 = 36293$ - Growth rate $r = 1.53\% = 0.0153$ - Number of years $t = 2028 - 2023 = 5$ 4. **Calculate the population in 2028:** $$P(5) = 36293 \times (1 + 0.0153)^5 = 36293 \times (1.0153)^5$$ 5. **Calculate $(1.0153)^5$ step-by-step:** $$ (1.0153)^5 = 1.0153 \times 1.0153 \times 1.0153 \times 1.0153 \times 1.0153 $$ Using a calculator, this is approximately $1.0797$. 6. **Multiply to find population:** $$P(5) = 36293 \times 1.0797 = 39156.5$$ 7. **Round to nearest whole number:** $$\boxed{39157}$$ So, the predicted population of Rexburg in 2028 is approximately 39157 people.