The population of the world in 1987 was about 5 billion, and the relative growth rate was estimated at about 2 percent per year. Assuming that the world population follows an exponential growth model, find the projected world population in 1995 . Round your answer to 2 decimal places. The world population in 1995 is projected to be \( \square \) billion people.

To find the projected world population in 1995, we can use the exponential growth formula: \[ P(t) = P_0 \times e^{(rt)} \] Where: - \( P(t) \) is the population after time \( t \), - \( P_0 \) is the initial population (5 billion in 1987), - \( r \) is the growth rate (0.02), - \( t \) is the number of years after 1987 (8 years to 1995), - \( e \) is the base of the natural logarithm (approximately 2.71828). Plugging in the values: \[ P(8) = 5 \times e^{(0.02 \times 8)} \] Calculating \( 0.02 \times 8 = 0.16 \), we have: \[ P(8) = 5 \times e^{0.16} \] Now calculating \( e^{0.16} \): \[ e^{0.16} \approx 1.173 \] So, \[ P(8) \approx 5 \times 1.173 \approx 5.865 \] Thus, the projected world population in 1995 is approximately 5.87 billion people when rounded to two decimal places. The world population in 1995 is projected to be \( 5.87 \) billion people.