In: Finance
Herman has a honey bee hive. The hive starts with a population of 50,000 bees, but because of environmental stresses the population decreases by 10% every year. Each bee lives exactly one season, and produces 1 gram of honey over its lifetime.
a) How many bees are left at the end of the fifth year?
b) How much total honey does the hive produce over five years?
explain all formulas and steps