The population in the next 20 years would be 2653 people. The result is obtained by the equation of estimating the future population.
The future population can be estimated by the following equation:
P = P₀ × (1 + i)ⁿ
Where
If the recent population is 1000 people and the growth rate is 5% per year, what would the population be in the next 20 years?
The population in the next 20 years would be
P = P₀ × (1 + i)ⁿ
P = 1000 × (1 + 0.05)²⁰
P = 1000 × (1.05)²⁰
P = 1000 × 2.6533
P = 2653 people
Hence, the population in the next 20 years would be 2653 people.
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