Question

Westville currently has a population of 24,598 and has been declining at a rate of 1.9% per year. At this rate, what will the population be in 10 years?

Answer 1

20,304

Explanation:

We are given the information that the population of 24,598 is declining at a rate of 1.9% per year. We need to figure out the population estimate in 10 years from now. To do that, we can use a general decline formula as shown below:

`A = P(1-r)^t`

A = total amount

P = original amount

r = growth rate (decimal)

t = years

Before we plug in the values, don't forget to change 1.9% to its decimal form.

1.9% ->
`(1.9)/(100)` -> 0.019

Now, lets plug in the values:

`A=24,598(1-0.019)^(10)`

`A = 20,304`

The population after 10 years will be 20,304.