Question

The number of customers visiting a local business is 48,961 and has been continuously declining at a rate of 2.5% each year. what is the approximate number of customers in 13 years?

Answer 1

it would be approximately 35 thousands after 13 years

Answer 2

A = P(1 - rate in %)ⁿ, where P is the initial number of population, rate is the depreciation per year (here it's negative since the population decreases and n the number of years
P = 48,961
Rate = 2.5% or 0.025
n = 13 years.

A = 48961(1-0.025)¹³

A = 48961(0.97)¹³ = 35,230

A =