The town of Diamond Wish, which initially had 20 000 people, began to experience an exponential decline in population at a rate of 2.5% per year, after the closure of a local coal mine. How long will it take for the population to drop to 12 000? (round to nearest tenths).

College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.4: Geometric Sequences And Series
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The town of Diamond Wish, which initially had 20 000 people, began to experience an exponential
decline in population at a rate of 2.5% per year, after the closure of a local coal mine. How long will it
take for the population to drop to 12 000? (round to nearest tenths).
Transcribed Image Text:The town of Diamond Wish, which initially had 20 000 people, began to experience an exponential decline in population at a rate of 2.5% per year, after the closure of a local coal mine. How long will it take for the population to drop to 12 000? (round to nearest tenths).
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