Question

Please help

The population of Lostview is 650,000 and has been decreasing at a rate of 3.5% each year. If this trend continues, in how many years will be population of Lostview first drop below 200,000?

A.30
B.31
C.32
D.33
E.34

Answer 1

E. 34

Explanation:

F = P(1 - r)^t

200,000 = 650,000(1 - 3.5/100)^t

20/65 = 0.965^t

4/13 = 0.965^t

log (4/13) = log (0.965^t)

log (4/13) = t × log 0.965

t = [log (4/13)]/(log 0.965)

t = 33.08303

Since in slightly more than 33 years, the population is exactly 200,000, the answer is 34 years.

Answer: E. 34