SOLUTION: There are currently 74 million cars in a certain country, decreasing by 4.3% annually. How many years will it take for this country to have 46 million cars? (Round to the nearest y

Question 313808: There are currently 74 million cars in a certain country, decreasing by 4.3% annually. How many years will it take for this country to have 46 million cars? (Round to the nearest year.) Use the exponential growth model P(t) = P0e^kt
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
There are currently 74 million cars in a certain country, decreasing by 4.3% annually. How many years will it take for this country to have 46 million cars? (Round to the nearest year.)
Use the exponential growth model P(t) = Poe^(kt)
----------------------
Find "k":
46 mil = 74 mil*e^(-0.043t)
e^(-0.043t) = 0.6216
---
Take the ln of both sides and solve for "t":
-0.043t = -0.4754
---
t = 11.06 years
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Cheers,
Stan H.

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