In January, 1992, the city of Bakersville had a population of 50,000. If the populati decreases by 2.5% each year, what will be Bakersville's expected population in January, 1999?

Answer 1

Each year the population decreases by 2.5 % . So for year 1 the reduced population will be (50000)(1.00- 0,025) = 50000 ((.975). For 7 years the reduced population = (50000) (0.975) ^7= 41880.

Answer 2

If we use the formula A = P( 1 - r )^t, where A = the final population, P = the initial population, r = the rate of decrease, and t = the number of years, we can insert the numbers and determine the population in 1999. The value of A is what we are seeking, the value of P is 50,000, the value of r = .025 (and we will subtract it from 1 because the population is decreasing), and the value of t = 7, so here we go:

A = 50,000( 1 - .025)⁷. Following Order of Operations, we will raise .975 to the power of 7, then multiply that amount by 50,000. Rounding to the nearest whole number/whole person, we end up with a population of

41,880 people in 1999.