Answer:
Population (t=-3)= 50,000
Step-by-step explanation:
Giving the following information:
Annual growth rate (g)= 10%
Number of periods (n)= 3 years
Present Value (PV)= 66,550 people
To calculate the population three years ago, we need to use the following formula:
Population (t=-3)= PV / (1 + g)^n
Population (t=-3)= 66,550 / (1.1^3)
Population (t=-3)= 50,000
