SOLUTION: A company is downsizing and expects the number of employees to shrink at the rate of 3% per month. Currently the company employs 30,000 people. How many people are supposed to be e

Question 1061529: A company is downsizing and expects the number of employees to shrink at the rate of 3% per month. Currently the company employs 30,000 people. How many people are supposed to be employed with this company in a year? Thank you.
Answer by jorel555(1290) (Show Source): You can put this solution on YOUR website!
If the company shrinks by 3% each month, then they have 97% of their employees from the previous month. So, at the end of 12 months they have:
30000 x (.97)^12=20815.27 people.☺☺☺☺
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