Answer
$344$ million.
Work Step by Step
In 2020 (60 years from 1960), we have:
$P(60)=(1.01087)^{60}\approx 344.34278$
or, to 3 significant digits, about $344$ million.
Finite Math and Applied Calculus (6th Edition)
by Waner, Stefan; Costenoble, Steven
Published by
Brooks Cole
ISBN 10:
1133607705
ISBN 13:
978-1-13360-770-0
Chapter 9 - Section 9.2 - Exponential Functions and Models - Exercises - Page 644: 75c
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