The correct answer is: 6.99 billion (as 6.986 billion is rounded off (to nearest hundredth place) to 6.99 billion)
Explanation:
The given function is: y = 6.2(1.01)^x --- (1)
Where x = number of years after 2000
It means that in 2012, the value of x would be 12 as the difference between 2012 and 2000 is 12 years.
Put x = 12 in equation (1):
(1) => y = 6.2(1.01)^12 = 6.986 billion = 6.99 billion
