Question

The number of customers that visit a local small business is 46,900 and has been continuously declining at a rate of 3.2% each year. What is the approximate number of customers that visit the business in 8 years?

Answer 1

V=Vo (1-r/100)^n
V=46900(1-3.2/100)^8
V=46900(96.8/100)^8
V=46900*(.968)^8
V=36155.61
V=36155(approx)