Question

The population of a town is 14,000 and is decreasing at a rate of 1.5% each year. Write an exponential decay equation to find the population of the town after 10 years. Give the number as your response below.

Answer 1

Answer: the population after 10 years is 12036

Step-by-step explanation:

We would apply the formula for exponential growth which is expressed as

A = P(1 - r)^ t

Where

A represents the population after t years.

t represents the number of years.

P represents the initial population.

r represents rate of growth.

From the information given,

P = 14000

r = 1.5% = 1.5/100 = 0.015

t = 10 years

Therefore, the exponential decay equation to find the population of the town after 10 years is

A = 14000(1 - 0.015)^10

A = 14000(0.985)^10

A = 12036