Question

Suppose the population of a town is 3,400 in 2000. The population decreases at a rate of 2% every 20 years. What will be the projected population in 2040? Round your answer to the nearest whole number.

options:
a)4,115
b)3,985
c)3,265
d)5,265

Answer 1

The formula would be
A=p (1-r)^t

P 3400
R 0.02

Since it decreases every 20 years
From 2000 to 2040 it decreases 2 times so
T 2

A=3,400×(1−0.02)^(2)
A=3,265

It's c