A city’s population is declining continuously at a rate of 6.1% each year. If the population of the city is currently 435,410, what will the population of the city be in 8 years?

222,930

263,162

266,945

267,278

Question

A city’s population is declining continuously at a rate of 6.1% each year. If the population of the city is currently 435,410, what will the population of the city be in 8 years? 

 222,930 

 263,162 

 266,945 

 267,278

anonymous · Answer

The easiest way to decrease something by 6.1 % (or 0.061)
is to multiply it by (1 - 0.061) ...that is multiply it by 0.939
Do that multiplication 8 times.

anonymous · Answer

At the end of the first year the population will be: 
435,410 * (1.0 - 0.061) = 435,410 * 0.939 At the end of the second year the population will be 435,410 * 0.939 * 0.939
 At the end of the eighth year the population will be
4354100×0.9398

435410×0.9398=263161.9752

which rounds to 263,162