Question

Question 5: continuously.a. 543, 426, 940b. 16, 246, 789c. 7, 447, 626d. 222, 661Please Help! me with this question.

Answer 1

The exponential model for decay/decline is given by the formula:

`F=P(1-r)^t`

Where

P is the present value

r is the rate of decline per time period

t is the time period

F is the future value

Given,

initial population is 11 million (P = 11)

declining rate of 2.6% [in decimal, 2.6/100 = 0.026, r = 0.026]

time is 15 years [t = 15]

Substituting the given values into the formula, let's find "F", population after 15 years:

`\begin{gathered} F=P(1-r)^t \\ F=11(1-0.026)^(15) \\ F=11(0.974)^(15) \\ F=7.409 \end{gathered}`

Rounded to 2 decimal place, the population after 15 years would approximately be equal to

7.41 million