Question

Voting in Seaside's annual school board elections has been going down by 10% from one election to the next. If 990 parents voted this year, how many will vote 4 years from now?

If necessary, round your answer to the nearest whole number.

Answer 1

FV= 676

Explanation:

Giving the following formula:

Present value (PV)= 990 parents

Decrease rate (d)= 10% = 0.1 per year

Number of periods (n)= 4

To calculate the future value of votes, we need to use the following formula:

FV= PV / (1 + d)^n

FV= 990 / (1.1^4)

FV= 676