The number of customers to visit a local small businesses 51,200 and has been continuously declining at a rate of 3.8 each year what is the approximate number of customers that visit the business in 14 years
1 answer:
Answer:
=30076 customers
Step-by-step explanation:
Number of customer= 51,200
rate of declination=3.8 %= 0.038
We will use the expresion below in calculating the approximate number of customers that visit the business in 14 years.
A=Pe^(rt)
Where P=initial amt,
r=annual rate of growth or decline,
A=amount after t years.
37800=Pe^.017t
51200=Pe^0.038
P= 51200/e^(0.038*14)
But e^(0.038*14)= 1.7023
P= 51200/1.7023
P=30076
Approximate number of customers that visit the business in 14 years≈30076
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