Write an exponential function to model the situation, then find the amount after the specified time.
A population of 1,860,000 decreases 1.5% each year for 12 years.
A. y=1,860,000(1.05)^×; 3,340,293
B. y=1,860,000(1.05)-^×; 1,035,718
C. y=1,860,000(0.985)^×; 1,551, 485
D. y=1,860,000(0.95)^×; 1,005,070
The correct exponential function to model the situation would be: y = 1,860,000(0.985)^x.
To find the amount after 12 years, substitute the value of x as 12 in the equation:
y = 1,860,000(0.985)^12
Calculating this, we get:
y ≈ 1,551,485
Therefore, the amount after 12 years is approximately 1,551,485.
Therefore, the correct answer is C.