Suppose the acreage of forest is decreasing by 2% per year because of development. If there are currently 4,500,000 acres of forest, determine the amount of forest land after each of the following number of years?
See below an explanation of how to do it, as cannot directly answer question as no number of years was given...
Even though there's no years, I will do a demonstration of how to do it for certain years
Even though this isn't money related, I would use compound interest, where a certain percentage of a value is lost over a certain amount of time. It is repeated loss of money or other over a period of time.
Plugging our values into the formula we get:
As you did not state the number of years we will leave this blank for the moment. Notice that we minus as it is decreasing...
Therefore instead of
Let's just do an example:
(Focus on that it is addition as he is getting money)
Using the formula
Therefore we add this onto
Plug this in your calculator you get...
Just do the exact same for your question, putting with the values I gave, just input the power as the amount of years that you want to work out.
There is your answer :)
Hope this helped!