A local college has a current total student body enrollment of 12,400. The enrollment is decreasing at a rate of 5% per year. Wh

Question

3 years ago

6

at will the student body enrollment be in 5 years?

1 answer:

vovangra [49] · Answer 1 · 2022-07-20T07:21:48+03:00

Answer:

FV= 9,716

Step-by-step explanation:

Giving the following information:

Present value (PV)= 12,400

Decrease rate (d)= 5%

Number of periods (n)= 5 years

<u>To calculate the enrolment value (future value) after 5 years, we need to use the following formula:</u>

FV= PV / (1 + d)^n

FV= 12,400 / (1.05^5)

FV= 9,716