Use a growth rate of 7% to predict the population in 2074 of a country that in the year 2006 had a population of 100 million?
2074-2006=68 years. If the growth rate is 7% per year then the growth factor is 1.07^68=99.56275 approx.
Multiply by 100,000,000=9,956,275,000.
(1+r)^2=1+2r+r^2=1+2r approx for small r. This is the doubling formula. 68=64+4=2^6+2^2.
If we apply the formula 6 times we get an approximate valu Read More: ...