SOLUTION: 500 millions CDs were sold in 2007. Average decrease of sales annually is 1.13%. When will it reach reach 20 million?

Algebra ->  Exponential-and-logarithmic-functions -> SOLUTION: 500 millions CDs were sold in 2007. Average decrease of sales annually is 1.13%. When will it reach reach 20 million?       Log On


   

Question 1115835: 500 millions CDs were sold in 2007. Average decrease of sales annually is 1.13%. When will it reach reach 20 million?
Answer by Alan3354(69443) About Me  (Show Source):
You can put this solution on YOUR website!
500 millions CDs were sold in 2007. Average decrease of sales annually is 1.13%. When will it reach reach 20 million?
--------
100 - 1.13 = 98.87% of sales each year --> 0.9887
------
500*0.9887^t = 20 --- t in years
Solve for t