Question

Write an exponential function to model the situation. Find each amount after the specified time.. . A population of 1,860,000 decreases 1.5% each year for 12 years.

Answer 1

We need to write an exponential function to model the situation, find each amount after the specified time. A population of 1,860,000 decreases 1.5% each year for 12 years. 
1,860,000(1−.015)12
1,860,000(.985)12

A calculator can be used for the rest. 

Answer 2

Answer: The amount after the specified time is 155148.54.

Step-by-step explanation:

Since We have given that

Initial Population = 186000

Rate of decrement  = 1.5%

Time period = 12 years

Since we need to use "Exponential function ":

$Amount=P(1-r)^t\\\\Amount=186000(1-\frac{1.5}{100})^{12}\\\\Amount=186000(1-0.015)^{12}\\\\Amount=186000(0.985)^{12}\\\\Amount=155148.54$

Hence, the amount after the specified time is 155148.54.