The number of employees of a certain company has been decreasing each year by 5%. If the company currently has 530 employees and this rate continues, find the number of employees in 11 years.
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Part 1
The number of employees in 11 years will be
enter your response here.
To find the number of employees in 11 years, we need to multiply the current number of employees (530) by the rate of decrease (0.95) for each year:
Number of employees in 11 years = 530 * (0.95)^11
Using a calculator, we find that the number of employees in 11 years will be approximately 359.18 (rounded to the nearest whole number), or 359 employees.