Answer:
y= 100,000*(1.042^x)
Step-by-step explanation:
Giving the following information:
Present Value= 100,000 people
Growth rate (g)= 4.2% per year
To calculate the future value (y) of the in any given year (x), we need to use the following formula:
y= PV*(1 + g)^x
y= 100,000*(1.042^x)
For example, for 5 years:
y= 100,000*1.042^5
y= 122,839.66 = 122,839
