00:01
Okay, so we're told that in 1996, the number of workers per beneficiary of the social security program was 3 .3.
00:10
So that's going to be our initial value.
00:13
And then we're also told that it's projected that this is going to decline by 1 .46 % each year up into the year 2030.
00:22
And so what we can do is we can say that we have this model, and i'm just going to call it f of x, where we have our initial value.
00:31
Be 3 .3.
00:33
And then we know that this value is decreasing by 1 .46 % each year.
00:38
So what we do is we take 1 .0146.
00:42
This is just 0 .0146 is the percentage, 1 .46 in a decimal form.
00:48
And then we raise this to the power of x.
00:51
And so here, 1 minus 0 .0146.
00:55
I'm going to plug that into my calculator really quick...