A city has a population of 340,000 people. Suppose that each year the population grows by 6%. What will the population be after 5 years?Use the calculator provided and round your answer to the nearest whole number.

To calculate the population after 5 years with a 6% annual growth rate, you can use the formula for compound interest, which is:

P = P0 * (1 + r)^n

where: P is the future population, P0 is the initial population, r is the annual growth rate (in decimal form), and n is the number of years.

Here's how you can calculate it:

1. Convert the annual growth rate from a percentage to a decimal by dividing by 100: 6/100 = 0.06.

2. Substitute the values into the formula: P = 340,000 * (1 + 0.06)^5.

3. Calculate the value inside the parentheses: 1 + 0.06 = 1.06.

4. Raise 1.06 to the power of 5. You can use a calculator for this step.

5. Multiply the result by the initial population (340,000).

6. Round the result to the nearest whole number to get the future population.

By following these steps, you should be able to calculate the population of the city after 5 years.