Question

The population of a small town in Ohio was 3,800 people in 1990. It has slowly been decreasing at a rate of 2.5% per year. What will the population of the town be in 2025?

 

Answer 1

Number of years, t = 2025 - 1990 = 35

Initial Population, P = 3800

rate, r = -2.5

Final Population = 3800 *(1-2.5/100)^35 = 1566.55319278

Answer 2

In 1991 the population would be 97.5% of 3800. In 2025 the population is predicted to be 0.975³⁵×3800=1567 approx. because 2025-1990=35 years.

Comments

Thank You for correcting me. I should have taken the effect of compounding.