SOLUTION: The number of customers that visit a local small business is 37,800 and has been continuously declining at a rate of 1.7% each year. What is the approximate number of customers tha

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Question 611686: The number of customers that visit a local small business is 37,800 and has been continuously declining at a rate of 1.7% each year. What is the approximate number of customers that visit the business in 12 years?
Answer by lwsshak3(11628) About Me  (Show Source):
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The number of customers that visit a local small business is 37,800 and has been continuously declining at a rate of 1.7% each year. What is the approximate number of customers that visit the business in 12 years?
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Use following compounding formula: A=Pe^rt, P=initial amt, r=annual rate of growth or decline, A=amt after t years.
37800=Pe^.017t
P=37800/e^.017*12≈30824
ans:
Approximate number of customers that visit the business in 12 years≈30824