The population of philadelphia was 12,000 in 2006 and is growing by 5% each year. predict the population for 2020.

we are given

Let's assume initial population in 2006

initial population 12000

now, we can use formula

we can plug values

we can solve it

and we get

.............Answer

Population at any time t is given as:

So, P(t)=12000(1+0.05)^t

From, 2006 to 2020, there are 14 years, so t=14

P(14)=12000(1+0.05)^14

=12000(1.05)^14=12000*1.979

=23748

So, Population in 2020,(14 years later)=23748