Question

The population of Detroit, Michigan was 951,300 in 2000. Detroit has been experiencing a population decline of 1.4% per year since 2000. What is the projected population for 2005 in Detroit?

Answer 1

`886,548`

Explanation:

The formula that describes this population's variation is given by:
`P=P_o*(1-i)^(Delta t)`
Where
`P_0` is the population in a referencial time (`t_0`)
`P` is the population in a time `t` around `t_0`
`i` is the rate of fhe population growth
`Delta t=t-t_0` is the difference between a time of interest and the referencial time

In the problem
`P_0=951,300`
`i=-1.4%=-0.014`
`Delta t=2005-2000=5`

So

`P=951.300*(1-0.014)^5=951,300*0,986^5=886,548`