Question

The number of customers to visit a local small businesses 51,200 and has been continuously declining at a rate of 3.8 each year what is the approximate number of customers that visit the business in 14 years

Answer 1

=30076 customers

Explanation:

Number of customer= 51,200

rate of declination=3.8 %= 0.038

We will use the expresion below in calculating the approximate number of customers that visit the business in 14 years.

A=Pe^(rt)

Where P=initial amt,

r=annual rate of growth or decline,

A=amount after t years.

37800=Pe^.017t

51200=Pe^0.038

P= 51200/e^(0.038*14)

But e^(0.038*14)= 1.7023

P= 51200/1.7023

P=30076

Approximate number of customers that visit the business in 14 years≈30076