In 2002, a certain town recorded 15,300 acres of underdeveloped land. Each year
1 answer:
The approximate amount of underdeveloped land in 2013 is A = 15300 X e^-0.07(11).
<h3>How do you determine the future value when there is continuous compounding? </h3>
The formula for calculating future value of an investment when there is continuous compounding is A = P x x N
Where:
- P = population in 2002
- r = rate of decrease = 0.07
- n = number of years = 2013 - 2002 = 11 years
A = 15300 X e^-0.07(11)
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