I'm looking at a question here and I'm a bit confused on how I'm supposed to solve it.
A population of 460 decreases at 5% monthly. How many years will it take for there to be 100 left on the island?
I know I'm supposed to use the formula A = Pe^(rt) where A = 100, P = 460, r = 0.05 * 12, and t is the unknown value. But since the population is decreasing, is the rate supposed to be negative too?
Assuming that the rate is supposed to be negative, I think the next step is supposed to be:
ln(100) = .6x * ln(460) ln(100) / ln(460) = .6x
x = [ln(100) / ln(460)] / .6
But I think this is the wrong answer anyway because that would mean t is approximately 1 year. And this answer wouldn't change even if I used a negative rate. I'm not sure what I'm doing wrong here.