To calculate the population of the city after 3 years with a growth rate of 4.5% per year, you can use the formula for compound interest:
Population after 3 years = Population * (1 + Growth Rate)^Number of years
Population after 3 years = 518,452 * (1 + 0.045)^3
First, calculate the growth factor:
1 + 0.045 = 1.045
Now, raise this factor to the power of 3:
(1.045)^3 ≈ 1.141
Finally, multiply the initial population by the growth factor to find the population after 3 years:
Population after 3 years ≈ 518,452 * 1.141 ≈ 591,612
Therefore, the population of the city after 3 years will be approximately 591,612.
