To answer this question we will use the following formula for compounded growth:
[tex]P=P_0(1+r)^t,[/tex]Where P₀ is the initial population, r is the yearly rate of growth as a decimal number, and t is the number of years.
Substituting P₀=24,800, r=0.012, and t=7 we get:
[tex]P=24800(1+0.012)^7\text{.}[/tex]Simplifying the above result we get:
[tex]\begin{gathered} P=24800(1.012)^7, \\ P\approx26960. \end{gathered}[/tex]Answer: In 2017, Statesville's population will be about 26,960.
