To calculate the number of employees in 11 years considering a decrease of 8% each year, we can use the formula for exponential decay:
\[ N = N_0 \times (1 - r)^t \]
where:
- \( N_0 \) is the current number of employees (700)
- \( r \) is the rate of decrease (0.08)
- \( t \) is the number of years (11)
Substituting the values into the formula:
\[ N = 700 \times (1 - 0.08)^{11} \]
This simplifies to:
\[ N = 700 \times (0.92)^{11} \]
Now, we can calculate \( (0.92)^{11} \):
\[ (0.92)^{11} \approx 0.2957 \]
Now, plug this value back into the equation:
\[ N \approx 700 \times 0.2957 \approx 207.0 \]
Thus, the number of employees in 11 years will be approximately \( 207 \) employees.