Experiencing an explosive population growth

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1. If the interest rate is 6% per year compounded quarterly, how long (number of quarters) does it take earn $100 interest on an initial deposit of $300?

2. Downtown is experiencing an explosive population growth of 18% annually. At the end 2002, the population was 16,000. If the growth rate continues unabated, at the end of how many years will me population have passed 75,000?

Reference no: EM131388872

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