The population of a town with an initial population of 64,546 is decreasing at a rate of 3.7% per year. Create an exponential function of the form Q = Q0 × (1 + r)t.
Q = Q0 × (1 + r)t
Q = population after t years
Q0 = initial population (64,546)
r = rate of decrease per year (3.7% or 0.037)
t = number of years
Therefore, the exponential function is:
Q = 64,546 × (1 - 0.037)t