Exponential decay formula
[tex]f(x)=a(1-r)^x[/tex]where:
• f(x): exponential decay function
,• a: initial amount
,• r: rate of decay, as a decimal
,• x: time
In this case, f(x) models the number of employees after x years, the initial amount is a = 720 employees, and the rate of decay is r = 0.03 (= 3/100). Substituting these values into the formula, and evaluating for x = 5 years, we get:
[tex]\begin{gathered} f(x)=720(1-0.03^{})^x^{} \\ f(x)=720(0.97)^x \\ f(5)=720(0.97)^5 \\ f(5)\approx618 \end{gathered}[/tex]The number of employees in 5 years will be approximately 618
