Solve with proper methods.There are 50 habits on a farm. They are increasing at the rate of 12% every month, How many months will it be until there are 1000 rabbits? Show your work.

Given:

There are 50 habits on a farm. They are increasing at the rate of 12% every month,

Determine how many months will it take to have 1000 rabbits.

Solution:

In order to determine how many months will it take to have 1000 rabbits, we can estimate it by taking 12% of 50 then add it in a compound manner. To take the percentage of a number we must first convert it to decimal. In converting a percentage into decimal, divide the percentage by 100, hence in converting a decimal to percentage, multiply the percentage by 100.

= 12/100

= 0.12

Multiply .12 by 50 and add the product to 50. Repeat this step until 1000. 

50 (.12) = 6

= 56

56(.12) = 6.72

= 62.72

62.72(.12)=7.5

=70.22

70.22(.12) = 8.4

=78.62

78.62(.12)=9.4

= 88.02

88.02(.12) = 10.56

=98.58

98.58(.12) = 11.8

=110.38

Now since we have an answer up to 100, we can estimate by counting the number of compounded months up until 110.38 then multiply by 10. Hence we have 7 months, therefore if we multiply it by 10, it will become 70 months.

Final answer:

= approximately 70 months or 5.83 years