Question

Voting in Clarksville's annual school board elections has been going down by 5% from one election to the next. If 440 parents voted this year, how many will vote 3 years from now?

Answer 1

377 parents

Explanation:

We start by writing an exponential equation

FV = PV(1 - r)^t

FV is future value = ?

PV is present value = 440

r is rate = 5/100 = 0.05

t = 3

Substituting these values

FV = 440(1 - 0.05)^3

FV = 377.245

This is approximately 377