Choose the one alternative that best completes the statement or answers the question.
-Joytown has a present population of 40,000 and the population is increasing by 2.5% each year. How long will it take for the population to double? Round your answer to the nearest year.
A) 29 years
B) 41 years
C) 40 years
D) 28 years

Question

Quizplus · Accepted Answer

To find the time it takes for a quantity to double with a constant growth rate, you can use the rule of 70, which is an approximation method. It states that if you divide 70 by the annual growth rate, you get an approximate number of years it takes for the quantity to double. In this case, 70 divided by the growth rate of 2.5% gives 70 / 2.5 = 28 years.

Choose the One Alternative That Best Completes the Statement or Answers