Question

the number of employees for a certain company has been decreasing each year by 7%. if the company currently has 890 employees and this rate continues, find the number of employees in 7 years.

the number of employees in 7 years will be approximately
(round to the nearest whole number as needed.)

Explanation:

Step1: Define decay formula

This is exponential decay, use $N(t) = N_0(1-r)^t$, where $N_0=890$, $r=0.07$, $t=7$.

Step2: Calculate retention factor

$1-r = 1-0.07 = 0.93$

Step3: Compute 7-year decay factor

$0.93^7 \approx 0.6017$

Step4: Find final employee count

$N(7) = 890 \times 0.93^7 \approx 890 \times 0.6017$

Answer:

536