![Algebra and Trigonometry (6th Edition)](https://www.bartleby.com/isbn_cover_images/9780134463216/9780134463216_smallCoverImage.gif)
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN: 9780134463216
Author: Robert F. Blitzer
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Question
![**Educational Text:**
**Population Decline Problem**
A certain population declines by 7% each year. What is the percentage decline each month? *(Round your answer to two decimal places.)*
---
To solve this problem, you need to calculate the monthly percentage decline from the annual decline percentage. You can use the formula for compound interest decay:
\[
(1 - \text{annual decline rate})^{\frac{1}{12}} = 1 - \text{monthly decline rate}
\]
Given:
- Annual decline rate = 7% or 0.07
Calculation:
1. Compute \( (1 - 0.07)^{\frac{1}{12}} \)
2. Subtract the result from 1 to get the monthly decline rate.
3. Multiply by 100 to convert it to a percentage.
4. Round the final answer to two decimal places.
This approach ensures an accurate breakdown of the yearly decline into monthly increments.](https://content.bartleby.com/qna-images/question/235a66aa-6de5-4552-9951-f915992e4bc6/61b72237-a957-46e4-927c-88363a3e333b/paj8n_thumbnail.jpeg)
Transcribed Image Text:**Educational Text:**
**Population Decline Problem**
A certain population declines by 7% each year. What is the percentage decline each month? *(Round your answer to two decimal places.)*
---
To solve this problem, you need to calculate the monthly percentage decline from the annual decline percentage. You can use the formula for compound interest decay:
\[
(1 - \text{annual decline rate})^{\frac{1}{12}} = 1 - \text{monthly decline rate}
\]
Given:
- Annual decline rate = 7% or 0.07
Calculation:
1. Compute \( (1 - 0.07)^{\frac{1}{12}} \)
2. Subtract the result from 1 to get the monthly decline rate.
3. Multiply by 100 to convert it to a percentage.
4. Round the final answer to two decimal places.
This approach ensures an accurate breakdown of the yearly decline into monthly increments.
Expert Solution
![Check Mark](/static/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution
Trending nowThis is a popular solution!
Step by stepSolved in 3 steps
![Blurred answer](/static/blurred-answer.jpg)
Knowledge Booster
Similar questions
- 1 2 4 Pounds Find the unit rate from the graph: dollars per pound 4. 2. Dollarsarrow_forward#7 I need helparrow_forwardGive your answer as a percentage, accurate to three decimal places.Your account value grows by 4% this year. What percentage gain do you need next year in order to: have a total of 10% growth? % average 10% growth per year? %What percentage loss can you take next year and still break even?arrow_forward
- 7arrow_forwardDaily High Temperature Application The table below shows the daily high temperatures in northern Washington during one week in January in the early 2000's. What was the average daily high temperature for that week? Round your answer to one decimal place. Day Temperature Mon. Tue Wed. Thu. Fri Sat Sun -4° -7° -2° The average temperature for the week was Fahrenheit. 0° 2° -5° -8° degreesarrow_forwardPredict the percentage of female high school graduates in 2026. Round to the nearest tenth (1 decimal place). _______ Predict instantaneous rate of change of the percentage of female high school graduates in 2033. Round to the nearest hundredth (2 decimal places). _______ % per yeararrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Algebra and Trigonometry (6th Edition)AlgebraISBN:9780134463216Author:Robert F. BlitzerPublisher:PEARSONContemporary Abstract AlgebraAlgebraISBN:9781305657960Author:Joseph GallianPublisher:Cengage LearningLinear Algebra: A Modern IntroductionAlgebraISBN:9781285463247Author:David PoolePublisher:Cengage Learning
- Algebra And Trigonometry (11th Edition)AlgebraISBN:9780135163078Author:Michael SullivanPublisher:PEARSONIntroduction to Linear Algebra, Fifth EditionAlgebraISBN:9780980232776Author:Gilbert StrangPublisher:Wellesley-Cambridge PressCollege Algebra (Collegiate Math)AlgebraISBN:9780077836344Author:Julie Miller, Donna GerkenPublisher:McGraw-Hill Education
![Text book image](https://www.bartleby.com/isbn_cover_images/9780134463216/9780134463216_smallCoverImage.gif)
Algebra and Trigonometry (6th Edition)
Algebra
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:PEARSON
![Text book image](https://www.bartleby.com/isbn_cover_images/9781305657960/9781305657960_smallCoverImage.gif)
Contemporary Abstract Algebra
Algebra
ISBN:9781305657960
Author:Joseph Gallian
Publisher:Cengage Learning
![Text book image](https://www.bartleby.com/isbn_cover_images/9781285463247/9781285463247_smallCoverImage.gif)
Linear Algebra: A Modern Introduction
Algebra
ISBN:9781285463247
Author:David Poole
Publisher:Cengage Learning
![Text book image](https://www.bartleby.com/isbn_cover_images/9780135163078/9780135163078_smallCoverImage.gif)
Algebra And Trigonometry (11th Edition)
Algebra
ISBN:9780135163078
Author:Michael Sullivan
Publisher:PEARSON
![Text book image](https://www.bartleby.com/isbn_cover_images/9780980232776/9780980232776_smallCoverImage.gif)
Introduction to Linear Algebra, Fifth Edition
Algebra
ISBN:9780980232776
Author:Gilbert Strang
Publisher:Wellesley-Cambridge Press
![Text book image](https://www.bartleby.com/isbn_cover_images/9780077836344/9780077836344_smallCoverImage.gif)
College Algebra (Collegiate Math)
Algebra
ISBN:9780077836344
Author:Julie Miller, Donna Gerken
Publisher:McGraw-Hill Education