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    Exam 9: Compound Interest: Further Topics and Applications
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    Rounded to the Nearest Month, How Long Will It Take
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Rounded to the Nearest Month, How Long Will It Take

Question 67

Question 67

Short Answer

Rounded to the nearest month, how long will it take a town's population to:
a) Grow from 32,500 to 40,000 if the annual growth rate is 3%?
b) Shrink from 40,000 to 32,500 if the annual rate of decline is 3%?

Correct Answer:

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a) 7 years...

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