Question

The fish population is decreasing at a rate of 3% per year. In 2002 there were about 2100 fish. Find the fish population in 2010. Round to the nearest whole number

Answer 1

Population of fish in 2010 = 1,646 fish (Approx.)

Explanation:

Given:

Population of fish in 2002 = 2100 fish

Decrease rate = 3% per year

Find:

Population of fish in 2010

Computation:

Number of year = 2010 - 2002

Number of year = 8 year

A = P[1+r]ⁿ

Population of fish in 2010 = Population of fish in 2002[1+(-3%)]ⁿ

Population of fish in 2010 = 2100[1-0.03]⁸

Population of fish in 2010 = 2100[0.97]⁸

Population of fish in 2010 = 2100[0.7837]

Population of fish in 2010 = 1645.77

Population of fish in 2010 = 1,646 fish (Approx.)