The population of a town is increasing at an annual rate of 6.2%. The city council believes they will have to add
another elementary school when the population reaches
110,000. If there are currently 56,000 people living in
the town, how long do they have before the new school
will be needed to the nearest tenth of a year?
[ use A = P(1 + r)']
(1) 11.2
(2) 1.8
(3) 109.2
(4) 3.2