A Population Model The population of the world in 2009 was 6.78billion people and was growing at a rate of 1.14% per year.Assuming that this growth rate continues the model P(t) =6.78(1.0114)t- 2009 represents the population P (in billions ofpeople) in year t. (a) According to this model when will thepopulation of the world be 8.7 billion people? (b) According tothis model when will the population of the world be 14 billionpeople?