A small town currently has a population of 15,000. Each year the population decreases by 2.25%. What will the population be in 8
years
1 answer:
Answer: 12,503 people
Step-by-step explanation:
This is an exponential decrease so to find the population in 8 years you have to use a future value formula:
= Amount * (1 + rate) ^ number of years
= 15,000 ( 1 + (-2.25%)) ⁸
= 15,000 * (1 - 2.25%)⁸
= 12,503.32
= 12,503 people
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