The population of a town today is 34000 people If the popula

The population of a town today is 34000 people.

If the population decreases with a constant rate of change and the decrease is 6% in the first year, what will the town\'s population be in 10 years? (Round to the nearest person)

If the population decreases with a constant percent change and the decrease is 6% in the first year, what will the town\'s population be in 10 years? (Round to the nearest person)

Solution

P(t)=p₀(1-r)^t

r=6%=.06

t=10years

P₀=34000

P(t)=34000(1-.06)¹⁰ = 340000*.94¹⁰=18313