The population of the world in 1987 was 5 billion and the annual growth rate was estimated at 2 percent per year. Assuming that the world population follows an exponential growth model, find the projected world population in 1998.

The projected world population in 1998 is 6,216,871,541.95

Step-by-step explanation:

Here we have the formula for exponential growth given by

A = P(1 + r)^t

Where:

A = Population at the end of the time period

P = Population at the start of the time period

r = Rate percent of population growth

t = Time period of interest

Therefore, given r = 2% = 2/100 = 0.02, P = 5,000,000,000;

t = year 1998 - year 1987 = 11 years

We have

A = 5,000,000,000 ×= 6,216,871,541.95

≈ 6.2 billion.

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