Question

The population is decreasing at a rate of 5% per year. If the population is 30,000 today, what will the population be in 12 years?

Answer 1

16200

Explanation:

30000 * (1-0.05)¹² = 30000 * 0.54 = 16200

1st year : 30000 * (1-0.05) = 28500

2nd year: 28500 * (1-0.05) = 30000 * (1-0.05)² = 27075

....

12th year: 30000 * (1-0.05)¹² = 16200