Question

the population of Watesville decreases at a 1.6% per year.If the population was 62,500 in 2014 what will it be in 2020

Answer 1

The population in 2020 will be 57657.5 approximately

Explanation:

Given:

Population in 2014, P = 62,500

Rate of decrease, r = 1.6%

Population in 2020, Q = ?

Number of years between 2014 to 2020 = 5 years

Population in 2020 = $P(1 - \frac{r}{100} )^t$

Substituting the value we get:

$Q = 62500(1- \frac{1.6}{100})^5\\ \\Q = 62500 ( 0.92252) \\\\Q = 57657.46$

Therefore, the population in 2020 will be 57657.5 approximately