1. The population of a state has grown at an annual rate of 2.8% over the...

1. The population of a state has grown at an annual rate of 2.8% over the past 5 years. If the current number of inhabitants is 3,825,000, what will be its population in 5, 10 and 20 years considering:
a) that the population growth rate does not change?
b) that the population grows to 2.8% the first 5 years, 2.5% the next 5 years and 2.0% the last years?

ANSWER

a) 5 years: 4 391 339; 10 years: 5,041,533; 20 years: 6 644 981

b) 5 years: 4 391 339; 10 years: 4 968 397; 20 years: 6 056 448

2. The annual income per inhabitant in the previous state is $ 5,000. What will be your annual income in 5, 10, 15 and 20 years if GDP is considered to grow at an average annual rate of 3.5%, and the population grows to 2.8%?

Please step by step.

Thank you !

Expert Solution

Q1		Years
	Sub part	5	10	20
	a	$4,391,339	$5,041,533	$6,644,981

	b	$4,391,339	$4,968,398	$6,056,449

Q2		Years
		5	10	20
	Annual income per person	5150	5330.25	5516.80875
	Total Income	22615398348	26872629529	36659088410

WORKINGS

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