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Erosion gradually reduces the size of a small Pacific island that has a current area of just 480 acres. If the island’s area decreases at an annual rate of 0.1%. Find the multiplier for the rate of exponential decay
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The basic formula for exponential decay is \[y=y _{0}e ^{kt}\]
The initial area of the island is 480 acres; this occurs when t=0. Thus, \[y=y _{0}e ^{kt}\rightarrow 480=480e ^{k(0)}\]...or simply let \[y _{0}=480~acres\] up front.
After 1 year, the area is 10% less, or 90% (0.90) of its previous size:\[0.90(480~acres)=(480~acres)e ^{1k}\]...where that '1' represents the elapsed time (1 year). Please solve this equation for k and you'll have your answer.
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