
Anand M. answered 12/10/14
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The Keys to Understanding a Subject: Fundamentals and Problem Solving
If the population has the form P(t) = A Bt, A is the population at t=0 and B is the fraction of the population that remains each year. In this problem, the initial population is given, so
A = 12,000
With the decrease each year of 6.4% (= 0.064), the amount which remains each year is
B = (1 - 0.064) = 0.936
To find the number of years until P(t) = 1320 = Pf, take the log of the population equation and solve for tf,
log Pf = log A + tf log B
tf= (log Pf - log A)/(log B).
= (log 1320 - log 12000)/log(.936) = 33.37 years