SOLUTION: The number of restaurants in a city that had 150 restaurants in 2002 is decreasing at a rate of 4% per year. i need to write an exponential function and then see how many restauran

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: The number of restaurants in a city that had 150 restaurants in 2002 is decreasing at a rate of 4% per year. i need to write an exponential function and then see how many restauran      Log On


   

Question 1008130: The number of restaurants in a city that had 150 restaurants in 2002 is decreasing at a rate of 4% per year. i need to write an exponential function and then see how many restaurants will be there in 2020. I cant figure it out.
Answer by fractalier(6550) About Me  (Show Source):
You can put this solution on YOUR website!
We use the relationship
A(t) = Ao*(1-r)^t
so that when we plug in we get (2020-2002 = 18 years)
A%282020%29+=+A%282002%29%2A%281+-+.04%29%5E%282020-2002%29
A(2020) = 150*(.96)^18 = 71.9 or about 72 restaurants left