Exercise

Try to solve a similar problem that involves exponential growth.

Task

In a small town, there is an interesting trend in population growth. At the beginning of 2022, the town had a population of 1,000. The town’s population experiences a unique growth pattern each year. In each subsequent year, the town’s population increases by 5% from the previous year’s population. Find out the answers to the following questions:

• What will the town’s population be in the next three years?

• If this growth pattern continues, estimate the population in the next $10$ years.

If you’re unsure how to do this, click the “Show Hint” button.