Answer :
To determine the number of cars that will be sold by the year 2020, we will use the equation,
N = (N1)(1 - r)^(t)
where N1 is the starting number of cars, r is the rate of the decrease, and t is the number of years from 2012. Substituting the konwn values,
N = (500)(1 - 0.028)^(8)
N = 398.38
The closest integer to the calculated value is 398. Thus, the answer is 398 cars.
N = (N1)(1 - r)^(t)
where N1 is the starting number of cars, r is the rate of the decrease, and t is the number of years from 2012. Substituting the konwn values,
N = (500)(1 - 0.028)^(8)
N = 398.38
The closest integer to the calculated value is 398. Thus, the answer is 398 cars.