Example 1: A cattle farm with a population of 240 cows is declining by 3.4% each year. Determine a formula to calculate the projected population in 5 years. Show your work. Prn)= ? P(n) = Po (1-r)" P(5) = 240 (1-0.034)° = 240(0.966) P: 240 3D Y: 0.034 : the pop. will decrease to about 201 cows n 5 year s. n: 5 P(5) = 201

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