Question

The population of Nigeria was about 140 million in 2008 and the exponential growth rate was 2.4% per year. How do you write an exponential function describing the population of Nigeria?

Answer 1

Population = 140 million`(1.024)^n`

Explanation:

If the population is growing at a rate of 2.4% then your growth will look like this:

2008: 140 million
2009: After 1 year: 140 million `xx 1.024`
2010: After 2 years; 140 million `xx 1.024xx1.024`
2011: After 3 years: 140 million `xx 1.024 xx1.024 xx1.024`
2012: After 4 years: 140 million `xx 1.024 xx1.024 xx1.024 xx1.024`

So the population after `n` years is given as:

Population = 140 million`(1.024)^n`