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What will be the approximate population of the United States, if its current population of 316,000,000...

What will be the approximate population of the United States, if its current population of 316,000,000 grows at a compound rate of 2.3% annually for 25 years? (Enter your answer rounded to the nearest whole number; for example, record 218,934,210.86 as 218934211).

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Answer #1

This question requires application of basic time value of money function, according to which FV = PV * (1 + r) where FV is F

FV = 316,000,000 * (1 + 2.3%)25

FV = 316,000,000 * 1.76559399

FV = 557,927,702

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