∑{t=0,9} 29600×(1-0.029)^t
= 29600 × ∑{t=0,9} (0.971)^t
= 29600×(1-(0.971)^10)/(1-0.971)
= 260212.7803191162604751275702776...
≈ 260212 (rounded down to whole person)
By ∑{i=0,n} a^i = (1-a^(n+1))/(1-a)
The number of customers that visit a local small business is 29,600 and has been continuously declining at a rate of 2.9% each year. What is the approximate number of customers that visit the business in 10 years
1 answer