Problema Solution

The population of a small town is 23.781 and has been continuously declining at a rate of 2.3% each year. What is the approximate population of the town in 17 years?

Answer provided by our tutors

A population of 23.781 might be 23,781 or might be something larger, it just depends on what exact figure is actually being provided (since a decimal count makes no sense).


let 'p' represent the initial population (23.781)

let 'T' represent the new population

let 'r' represent the rate of change (1-0.023)

let 'y' represent the number of years (17)


the exponential equation we have is:

T = p*r^y

T = 23.781*(1-0.023)^17

---------------------------

calculate exponential decrease

---------------------------

T = 16.012


...so, the town's population is now 16.012 but no way of determining what units are intended