The population of a town increases each year by 4% of its

The population of a town increases each year by 4% of its total at the beginning of the year. If the population on 1st January 2001 was 500000, what was it on 1st January, 2004 ?

Using Rule 17,
Required population

= P		1 +	R		^T
			100

= 500000		1 +	4		³
			100

= 500000		1 +	1		³
			25

= 500000 ×	26	×	26	×	26	= 562432
	25		25		25