# In Ghana population in 2010 was 24000000 and the annual growth rate is 2.5% What is Ghana population in 2018?

Feb 28, 2018

Roughly 29,241,669

#### Explanation:

Exponential growth can be calculated using the formula:

$F V = P V {\left(1 + r a t e\right)}^{n}$

FV=Future Value
PV=Present Value
rate=growth rate (as a decimal)
n=number of years (2018-2010=8years)

So:

$F V = 24 , 000 , 000 {\left(1.025\right)}^{8} \approx 29 , 241 , 669$