Neco Model Questions Vol1 2023 Economics Question 15

A country has a current population of 12 million. The age distribution is 28 % aged 0-14, 62 % aged 15-64 and 10 % aged 65 +. The population is growing at an annual rate of 1.8 %. Each year the proportion of the 0-14 age group falls by 0.5 percentage points and the proportion of the 65 + group rises by 0.5 percentage points, while the 15-64 proportion adjusts to keep the total at 100 %. Assuming these trends continue for five years, estimate (i) the total population after five years (rounded to the nearest thousand) and (ii) the new dependency ratio, defined as \(\frac{\text{population aged 0-14 + 65+}}{\text{population aged 15-64}}\times 100\). Provide your answer as "population; dependency ratio %".