A population grows exponentially according to the formula P = P₀ × e^(0.05t), where P₀ = 1000 and t is in years. What will the population be after 10 years? (Use e ≈ 2.718) - AMAZONAWS

Understanding the Context

Where:

• P is the future population
  
• P₀ is the initial population
  
• e is Euler’s number, approximately equal to 2.718
  
• r is the growth rate per unit time
  
• t is the time in years

This powerful formula helps demographers, economists, and policymakers predict future population trends based on current data.

Understanding the Formula with Real-World Impact

In the formula P = P₀ × e^(0.05t), the population begins at P₀ = 1000, and grows at a continuous annual rate of 5% (since r = 0.05). Here, t represents time in years. The exponential nature means growth accelerates over time—each year’s increase is based on the new, larger population, not a constant fixed number.

Key Insights

What Happens After 10 Years?

Let’s compute the population after 10 years using the given values:

• P₀ = 1000
  
• r = 0.05
  
• t = 10
  
• e ≈ 2.718

Start with the formula:
P = 1000 × e^(0.05 × 10)
P = 1000 × e^0.5

Now approximate e^0.5. Since e^0.5 ≈ √2.718 ≈ 1.6487 (using calculator approximation):

Final Thoughts

P ≈ 1000 × 1.6487
P ≈ 1648.7

Since population must be a whole number, we round to the nearest whole person:
P ≈ 1649

The Power of Exponential Growth

Over just 10 years, a population of 1,000 grows to approximately 1,649, illustrating the remarkable impact of compound growth. This exponential rise is not linear—it becomes faster as time progresses, making early projections critical for urban planning, healthcare, education, and environmental sustainability.

Summary

Using the exponential growth model P = P₀ × e^(0.05t), with P₀ = 1000 and t = 10: