Question

The population of a small town was 10,800 in 2002. Since then the population has decreased at a rate of 2.5% each year. Write an exponential function to model the situation then find the population of 2020

Answer 1

See below

Explanation:

A 2.5 % decrease means 97.5 % remains (.975)

population = 10800 ( .975) ^n where n = years past 2002

in 2020 n = 18

10800 (.975)^18 = 6847 people