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Answer: In 2008 the population was 21,525,144
Step-by-step explanation:
You need to use the following formula for Exponential decay:
Where is the initial population in the year 0,
is the rate of decay and
is the time.
In this case, you can identify that:
Therefore, substituting these values into the formula for Exponential decay, you get:
Then, in 2008 the population was 21,525,144
The formula required to answer this is:
where A is the amount of the principal P after n compounding periods per year at r interest rate (as a decimal fraction).
Plugging in the given values, we get:
Rounding to the nearest dollar, we get $662.00. Therefore a is the best answer choice.
where A is the amount of the principal P after n compounding periods per year at r interest rate (as a decimal fraction).
Plugging in the given values, we get:
Rounding to the nearest dollar, we get $662.00. Therefore a is the best answer choice.