Question

the number of employees for a certain company had been decreasing each year by 8%. If the company currently has 860 employees and this rate continues, fund the number of employees in 19 years.

Answer 1

approximately 684 employees

Explanation:

So this is an exponential equation since there is a dividing decrease, not just subtracting. The standard equation is,

`y = a(b)^(x)`.
`a` is initial value (860 employees) and
`b` is the change
`-8%` or
`0.92`. The
`x` would be the period of time,
`19`. This equation would be
`y = 860(0.92)^(19)`.

After solving, the equation would become the following:
`y = 860(0.92)^(19) = 176.387242442≈176`. After subracting the number of lost employees from orginal employees (
`860-176=684`), we see that the company will have approximately 684 employees left after 19 years.