Answer
The answer is 7,911,000,000
EXPLANATION
Problem Statement
The question tells us that the world's population is modeled by the formula:
[tex]\begin{gathered} P_N=P_0e^{iN} \\ \text{where, } \\ i=\text{growth rate of the population} \\ N=\text{Number of years} \\ P_0=\text{Initial population at 1994} \\ P_N=\text{Population at year of interest} \end{gathered}[/tex]Solution
To solve this question, we simply need to plug in all the values given to us. That is,
[tex]\begin{gathered} \text{Growth rate = 1.3 \%} \\ \text{ Initial population (}P_0)=5,642,000,000 \\ \text{Number of years (N) = 2020 - 1994 = 26} \end{gathered}[/tex]Thus, we can find the estimated world population in year 2020 as follows:
[tex]\begin{gathered} P_N=P_0e^{iN} \\ P_N=5,642\times10^6\times e^{\frac{1.3}{100}\times26} \\ P_n=7,910.88\times10^6\approx7,911,000,000\text{ (To the nearest million)} \end{gathered}[/tex]Final Answer
The answer is 7,911,000,000
