Question

http://prntscr.com/hd5v5h

Answer 1

@Shadow

Answer 2

What formula do you think we should use?

Answer 3

hmm

Answer 4

im not sure

Answer 5

Here are our options

Simple Interest

\[A(t) = P(1 + r)^{t}\]

This is calculated once a year

The language for this one would be "per year"


Compound Interest

\[A(t) = p(1 + \frac{ r }{ n })^{nt}\]

This is calculated more than one a year

The language for this problem would be monthly/quarterly

Continuous Compounding

\[A(t) = Pe ^{rt}\]

This used when the number of compounding periods approaches infinity

The language for this type of problem would be "compounded continuously"

Answer 6

Which one do you think we are using for this problem?

Answer 7

Simple intrest

Answer 8

Correct, can you identify our variables in our formula, and in our problem?

Answer 9

time is 5 yrs

Answer 10

intrest is 1.4?

Answer 11

We would make the rate negative as the problem notes the population as declining by 1.4%

Answer 12

Our principal/initial amount would be?

Answer 13

what would the principal amount be

Answer 14

Yes, what is our initial amount that we are given, of which we apply the rate (-1.4%) over the period of time that we are given (five years).

Answer 15

3,800

Answer 16

Correct, so now we have

\[A(t) = 3,800(1 -0.014)^{5}\]

Answer 17

.986

Answer 18

What do you get after that?

Answer 19

0.931932752

Answer 20

3541.34446

Answer 21

A?

Answer 22

Correct :)