subscriptions to a fashion magazine have gone down by a consistent 7% each year. if the magazine currently…

subscriptions to a fashion magazine have gone down by a consistent 7% each year. if the magazine currently has 28,215 subscribers, how many will there be in 4 years? if necessary, round your answer to the nearest whole number. subscribers

subscriptions to a fashion magazine have gone down by a consistent 7% each year. if the magazine currently has 28,215 subscribers, how many will there be in 4 years? if necessary, round your answer to the nearest whole number. subscribers

Answer

Explanation:

Step1: Identify the formula for exponential decay

The formula for exponential decay is $A = P(1 - r)^t$, where $A$ is the final amount, $P$ is the initial amount, $r$ is the rate of decay as a decimal, and $t$ is the number of time - periods. Here, $P = 28215$, $r=0.07$, and $t = 4$.

Step2: Substitute the values into the formula

$A=28215\times(1 - 0.07)^4=28215\times(0.93)^4$.

Step3: Calculate $(0.93)^4$

$(0.93)^4=0.93\times0.93\times0.93\times0.93 = 0.74805201$.

Step4: Calculate the final number of subscribers

$A = 28215\times0.74805201\approx21105$.

Answer:

21105