Question

From 2006 to 2010, the population of a town declined to 22,000. The population is expected to continue to decline at a rate of 2.8% each year. What will the population be in 2040? Round to the nearest whole number. Enter your answer in the box.

Answer 1

actually i just took the test and it said the answer was 9384

Answer 2

The population in 2040 of the town can be solved using the formula

F = P( 1 -I)^n

Where F is the future population

P is the present population

I is the decline rate

N is the number of years

F = 22,000(1-0.028)^39

F = 7268