A country's population in 1994 was 195 million. In 2002 it was 199 million. How do you estimate the population in 2016 using the exponential growth formula?
Population in 2016 is estimated to be
Let the population in starting year be
As the population in 1994 was 195 million and in 2002 (after 8 years), it was 199 million. We have
Growth rate is
The population in 2016 (after 22 years) would be