The population of a town is 75,000 and decreases 1.5% each year. If the trend continues, what will the population be after 12 years? Round your answer to the nearest thousand.

Answer 1

Let the Population = P, then after the end of year

1) Population = .98P

2) Population = .98(.98P) = .98²P

3) Population = .98(.982)P = .98³P You can now see the trend

So at the end of 12 years, the Population will be .98¹²P = .98¹²(75,000) = 58,854