Question

The number of customers that visits a local small business is 29600 and has been continously declining at a rtae of 2.9% each year. What is the approx. number taht visit the business in 10 years?

A: 22,149
B: 21,874
C: 39,558
D: 22,054

Answer 1

A=pe^-rt
A=29,600×e^(−0.029×10)
A=22,148.6 round 22149

Answer 2

Option (D)

Explanation:

Total number of customers that visits a local small business= 29600

Declining rate= 2.9%

Time= 10 years

Number of visitors after 10 years= 29600(
`(1-(2.9)/(100) )^(2)`)

Number of visitors after 10 years=
`(1-0.029)^(10)`

Number of visitors after 10 years= 29600
`(0.972)^(10)`

Number of visitors after 10 years= 22,054

Hence, the correct answer is 22054

Hence, the correct option is (D)