The population of a small town was 3000 at the beginning of 2007. assuming an average growth rate of 1.8% per year, what will be the population at the beginning of 2015?

F = P(1 + r)^t

F = future population
P = present population = 3000
r = growth rate per year as a decimal = 0.018
t = time in years = 8 (from 2007 to 2015, it's 8 years)

F = 3000(1 + 0.018)^8

F = 3460

The population will be 3460.

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