The population of the town after 3 years will be 3430.
Exponential growth refers to an increase of the resultant quantity for a given quantity, and exponential decay refers to the decrease of the resultant quantity for a given quantity.
[tex]y = a(1-r)^{x}[/tex]
Where,
a is the initial value (the amount before measuring the growth or decay).
r is the decay rate.
x is the number of time intervals that have passed.
According to the given question
We have
Initial population of a town, a = 4000
Decay rate, r = 5% = 0.05
Number of years, x = 3
Therefore, the population of town after 3 years = [tex]4000(1-0.05)^{3}[/tex]
⇒ Population of town after 3 years = [tex]4000(0.95)^{3}[/tex]
⇒ Population of town after 3 years = 4000 × 0.86
⇒ Population of town after 3 years = 3,429.5 ≈ 3,430
Hence, the population of the town after 3 years will be 3430.
Learn more about exponential decay here:
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