Answer: After 7 years the population will be one-half the initial amount.
Explanation:
Given: Initial population = 500,000
The population declines according to the equation:
, where P is the population in t years later.
One-half the initial amount = 0.5 x 500,000
= 250,000
Put P(t)=250,000, we get

Hence, After 7 years the population will be one-half the initial amount.