Answer :
The form of an exponential growth model is:
[tex]y=y_0e^{rt}[/tex]Where:
• y0 is the initial population
,• r is the rate of annual growth, in decimal
,• t are years since 1987
In this case:
y0 is 5 billion.
The annual growth rate is 1.6%. To covert to decimal, we divide by 100:
[tex]\frac{1.6}{100}=0.016[/tex]r = 0.016
And t are the years since 1987. We want to find the population in 2017. Then:
[tex]t=2017-1987=30[/tex]We can construct the model equation:
[tex]y=5,000,000,000e^{0.016\cdot30}[/tex]
And solve:
[tex]y=8,080,372,011[/tex]This is the projected world population in 2017