Help with Geometric Sequence ?
In 1990 the population of Canada was approximately 26.6 million. The population projection for 2015 is approximately 38.4 million. If the projection is based on a geometric sequence, what would be the annual growth rate?
- Wayne DeguManLv 73 months ago
At the start we have 26.6
After one year we have 26.6r
After two years we have 26.6r²
so, in 2015, which is 25 years on we have:
26.6r²⁵ = 38.4
so, r²⁵ = 38.4/26.6 = 1.443609023
Then, r = ²⁵√(1.443609023) = 1.014794217
Hence, annual growth is 1.48%...to 3 s.f.