Question

Looking for jobs and a better climate, people move out of town at a rate of 3% of its population every year. If the town had 7000 people in the year 2010, in the year 2019, it's population will be _____.

Answer 1

The initial population of the town is 7000, rate of reduction is 3%, thus the function modeling the new population will be given by:
f(t)=7000(0.97)^t
thus since our t=0 is in the year 2010, in the year 2019, t=19. The new population will be:
f(19)=7000(0.97)^19
f(19)=3,924.29
Thus the estimated population will be 3,924.29