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Part 1
The number of employees for a certain company has been decreasing each year by 8​%. If the company currently has 560 employees and this rate​ continues, find the number of employees in 15 years.
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Part 1
The number of employees in 15 years will be approximately
  
enter your response here.
​(Round to the nearest whole number as​ needed.)

1 answer

To find the number of employees in 15 years given a yearly decrease of 8%, we can use the formula for exponential decay:

\[ N = N_0 \times (1 - r)^t \]

where:

  • \(N\) is the number of employees after \(t\) years,
  • \(N_0\) is the current number of employees,
  • \(r\) is the rate of decrease,
  • \(t\) is the number of years.

Given:

  • \(N_0 = 560\),
  • \(r = 0.08\),
  • \(t = 15\).

Plugging these values into the formula:

\[ N = 560 \times (1 - 0.08)^{15} \] \[ N = 560 \times (0.92)^{15} \]

Now, calculate \(0.92^{15}\):

\[ 0.92^{15} \approx 0.2675 \]

Now multiply this value by 560:

\[ N \approx 560 \times 0.2675 \approx 149.8 \]

Rounding to the nearest whole number, the number of employees in 15 years will be approximately:

\[ \boxed{150} \]