SOLUTION
Write out the giving information:
[tex]\begin{gathered} \text{Initial population=6250} \\ \text{growth rate =4.375\%=0.04375} \\ \text{ Number of years =2050-2010=}40 \end{gathered}[/tex]Write out the formula population growth
[tex]\begin{gathered} P_1=P_o(1+r)^n \\ \text{Where } \\ P_1=\text{Future population size} \\ P_0=\text{Initial population size} \\ r=\text{increase rate } \\ n=\text{ number of years } \end{gathered}[/tex]Substitute the value giving into the formula above, we have
[tex]P_1=6250(1+0.04375)^{40}[/tex]Simplify the expression above, we have
[tex]\begin{gathered} P_1=6250(1.04375)^{40} \\ \text{Then} \\ P_1=6250\times5.5445 \end{gathered}[/tex]Multiplying the numbers, we have
[tex]P_1=34652.89[/tex]Therefore
The population of smalltown in 2050 will be 34653
Answer: 34652
