If Toronto's Urban Centre Population is 5,555,912 and growing at 1.67%?

Question

How long until Toronto's population reaches

a) 7.5 million

b) 10 million

Answer 1

For a)

A=P(1+(i/q))^nq

7,500,000=(5,555,912+(1.67/1))^n(1)

n = 18.1160991955 years

For b) use the rule of 70

70/1.67 = 43.75

So in 43.75 years, Toronto will have about 11 million people