Population Growth Calculation

In a city, the population is currently 80,000. Each year, the population increases by 12% due to natural growth and migration. If this trend continues, what will be the population after two years?

To calculate the population after two years, use the formula for compound percentage increase:

$$ P = P_0 (1 + r)^t $$

where:

$$ P_0 $$ is the initial population,

$$ r $$ is the percentage increase (as a decimal),

$$ P $$ is the future population, and

$$ t $$ is the number of years.