Question

1. The population of the small town of Parks in 2000 was estimated to be 3,901 people with an annual rate of decrease of about 1.8%. At this rate, what is the estimated population in 2013.

Answer 1

Given that the population of the small town of Parks in 2000 was estimated to be 3,901 people with an annual rate of decrease of about 1.8%. Now we have to find about what is the estimated population in 2013. So we can use decay formula:

$A=P(1-r)^t$

where P is the initial population so P=3901

r= rate of decrease = 1.8%= 0.018

t=number of years  since 2000 = 13

Now plug these values to find the value of A

$A=3901(1-0.018)^{13}$

$A=3901(0.982)^{13}$

$A=3901(0.789676731294)$

A=3080.52892878

Hence final answer is approx 3080.