Step-by-step explanation:
The population of the city of Miami = 463,300
The rate of increase in population every year = 3%
The population of the city after 7 years = ?
By formula, [tex]P_{n} = P (1 +\frac{r}{100})^{n }[/tex]
Pn is the population after 7 years
P is the current population = 463,300
r = 3 %, n = 7
[tex]P_{7} = 463300 (1 +\frac{3}{100})^{7 }[/tex]
= 463300 (1.23)
= 569859
The population of the city after 7 years = 569,859
