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A town has a population of 53,800 and shrinks at a rate of 2.5% every year. Which equation represents the town’s population after 3 years?

Question

A town has a population of 53,800 and shrinks at a rate of 2.5% every year. Which equation represents the town’s population after 3 years?

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Solution

The equation that represents the town's population after 3 years is:

P = 53800 * (1 - 0.025)^3

Here's the step-by-step explanation:

  1. The initial population of the town is 53,800.

  2. The town shrinks at a rate of 2.5% every year. This can be represented as a decrease of 0.025 (since 2.5% = 0.025 when expressed as a decimal).

  3. The population after one year would be 53800 * (1 - 0.025), which represents a 2.5% decrease from the initial population.

  4. To find the population after 3 years, we raise the term (1 - 0.025) to the power of 3, because the population decreases by 2.5% each year for 3 years.

  5. Therefore, the equation P = 53800 * (1 - 0.025)^3 represents the town's population after 3 years.

This problem has been solved

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