Poulation Growth and Sum of annuities

Consider the formula P = 6738 * (1026)^t If we let P

represent the population of Mexico in year t where t is the number of years

from 1980, confirm that this formula gives the same population values as those

given in the table

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What would the population in 1990 have been if growth had continued in this same pattern?

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The following table gives the estimated population years

1980 to 1986

Year Population in Millions

1980 6738

1981 6913

1982 7093

1983 7277

1984 7466

1985 7660

1986 7859

b What would the population in 1990 have been if growth had

continued in this same pattern?

c How many years beyond 1980 will it take to double the

population assuming the growth continues in the same pattern?

The effect of inflation

a What is the future value of saving $3000 per year at 10%

per year interest, for 20 years, assuming reinvestment of interest at the same

rate

b Assume inflation is a constant 4% per year What effect

does that have on the “real” eventual amount?

c If inflation continues at 4% per year what will the

“real value” of a dollar be in 20 years?

d If inflation is 10% per year what will the “real

value” of a dollar be in 20 years

Paper format

- 275 words per page
- 12 pt Arial/Times New Roman
- Double line spacing
- Any citation style (APA, MLA, Chicago/Turabian, Harvard)

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