If you used your answer to Exercise 35 as the annual (simple...

If you used your answer to Exercise 35 as the annual (simple interest) rate at which the population was growing since 1950 , what would you predict the San Diego County population to be in $2010 ?$

Key Concepts

Simple Interest

Simple interest refers to a method of calculating interest where the interest charge remains constant over time, based directly on the original principal amount. In contrast to compound interest, simple interest does not take into account accrued interest from previous periods, leading to a linear growth model. This concept is crucial when projecting growth over time using a fixed annual rate.

Population Growth Modeling

Population growth modeling is the process of estimating future population sizes based on certain growth assumptions and rates. By applying models such as simple interest growth, one assumes that the population increases by a fixed amount or percentage each period. This method of projection is useful in demographic studies and planning when growth is assumed to be steady rather than exponential.

Extrapolation

Extrapolation is the technique of estimating unknown values by extending or projecting from known data. In the context of population growth, it involves using a known growth rate and the elapsed time period to predict future population sizes. This concept is foundational in predicting long-term trends based on historical performance.

Time Interval Calculation

Time interval calculation involves determining the number of time periods between a starting point and a future date, which is essential when applying a constant growth rate over a number of periods. The accurate measurement of this interval is critical in forecasting future values in any simple interest or population growth model.

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