The formula for the estimated student population in 2020 is 284 + (284 × 4%)^n
Given:
2013 population = 284
Annual growth rate of population = 4%
Predicted year = 2020
let
n = difference between predicted year and 2013 population
= 2020 - 2013
= 7
The formula:
Estimated population = 2013 population + (2013 population × Annual growth rate)^n
= 284 + (284 × 4%)^n
= 284 + (284 × 0.04)^7
= 284 + (11.36)^7
= 284 + 24,414,527.3
= 24,414,811.3
Therefore, the estimated population of the students in 2020 is 24,414,811.3
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