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Note: When solving for k, round to four decimal places.

A country's population in 1994 was 107 million. In 1997 it was 112 million. Estimate the population in 2008 using the exponential growth formula. Round your answer to the nearest million. ​

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Answer: 132 million

Exponential growth formula: [tex]P=A e^{rt}[/tex]

[P is final amount, A is initial amount, r is growth rate, x is time intervals]

To find growth rate:

[tex]112 = 107 e^{r(3)}[/tex]

[tex]3r= ln(112/107)[/tex]

[tex]r= ln(112/107)/3 = 0.01522334561[/tex]

Population in 2008:

[tex]P_{2008}=107 e^{(0.01522334561(14))}[/tex]

[tex]P_{2008}=132.4169522[/tex]

[tex]P_{2008}=132\:million \quad (rounded \:to\:nearest\:million)[/tex]

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