A town has a population of 18000 and grows at 2% every year. What will be the population after 12 years, to the nearest whole number?
To calculate the population after 12 years, we can use the formula for compound interest:
Population after 12 years = Population * (1 + growth rate)^number of years
Population after 12 years = 18000 * (1 + 0.02)^12
Population after 12 years = 18000 * (1.02)^12
Population after 12 years = 18000 * 1.26824
Population after 12 years ā 22868
Therefore, the population after 12 years will be approximately 22868.