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In the mythical country of Myland, the population recently reached 10 million. At that time, a popular news magazine predicted that with an average yearly growth rate of 2%, the population would be 20 million in 50 years. How does this value (18 million) compare to the value predicted by the model which assumes that the increase in population is proportional to the population at time t?

2. Homework Equations

dp/dt = kP

p(0) = 10,000,000

p(50) = 20,000,000

3. Attempt at solution

the 2% is throwing me off. I don't know where to put it. Could I use an interest formula and make the growth rate compound yearly at 2%?