Need help! Population growth (1 Viewer)

[clareh08]

If in 2014, the Australias population was 23 246 692, with a growth rate of approximately 1.14%, what was the population in 2015?

Please help! What is the formula and how would you work out this question

 

[jamesh1234]

23 246 692*(1+0.0114) = 23511704.

The formula is just base population*(1+growth)^(number of years). Since it's just one year it's simply 23246692*1.0114.


James Huang
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[braintic]

Actually, this question is not clear.
If the 1.14% is an average growth rate then the calculation given by jamesh1234 is correct.
If it is an instantaneous growth rate then the calculation is 23246682 * e^(0.0114)