Answer:
In 2020 the population would be 673.
Step-by-step explanation:
Giving the following information:
Current population (PV)= 250
Growth rate (g)= 2% annualy
Number of periods (n)= 2020 - 1970= 50 years
To calculate the number of people in 2020, we need to use the following formula:
FV= PV*(1+g)^n
FV= 250*(1.02^50)
FV= 672.89 = 673
