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Due to the closure of the pulp and paper mill, the population of the small town is decreasing at a rate of 12%12% annually. If there are now 24002400 people living in the town, what will the town's projected population be in eight years?y=𝑦= (( )x)𝑥What number will you fill in for x𝑥 to solve the equation?y=𝑦= (Round to the nearest whole person.)

Question

Due to the closure of the pulp and paper mill, the population of the small town is decreasing at a rate of 12%12% annually. If there are now 24002400 people living in the town, what will the town's projected population be in eight years?y=𝑦= (( )x)𝑥What number will you fill in for x𝑥 to solve the equation?y=𝑦= (Round to the nearest whole person.)

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Solution

To solve this problem, we need to understand that the population is decreasing at a rate of 12% annually. This means that each year, the population is 88% (100% - 12%) of what it was the previous year.

The equation given, y = (( )^x), is a formula for exponential decay, where y is the final amount, x is the time (in this case, years), and the blank is the rate of decay expressed as a decimal.

In this case, we are trying to find the population in eight years, so x = 8.

The rate of decay is 88% or 0.88 when expressed as a decimal.

So, to solve the equation, you will fill in 0.88 for the blank, and 8 for x.

The equation becomes y = (0.88)^8.

Solving this will give you the proportion of the population that remains after 8 years. To find the actual population, you would then multiply this number by the current population of 2400.

So, the final step is to calculate 2400 * (0.88)^8 and round to the nearest whole person.

This problem has been solved

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