The population in 2020 will be 57657.5 approximately
Explanation:
Given:
Population in 2014, P = 62,500
Rate of decrease, r = 1.6%
Population in 2020, Q = ?
Number of years between 2014 to 2020 = 5 years
Population in 2020 = [tex]P(1 - \frac{r}{100} )^t[/tex]
Substituting the value we get:
[tex]Q = 62500(1- \frac{1.6}{100})^5\\ \\Q = 62500 ( 0.92252) \\\\Q = 57657.46[/tex]
Therefore, the population in 2020 will be 57657.5 approximately
