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If a town of 25,000 people is growing at a rate of approximately 1 percent per year, the population of the town in 5 years will be closest to
Option A is the correct answer.
Given that 25,000 people are there and they increasing at the rate of 0.01
We need to find:
25000(1.01)^5 = 25000(1+0.01)^5
If x is tiny, (1+x)^y is approximately 1+xy (1+0.01)^5
= 1.05 25000(1.05)
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