Calculate the decay time by solving for x in the exponential equation.

The population of a small town is decreasing at a rate of 8% each year. The following table shows a projection of the population after 4 years.

Years Populations 0 3,000 1 2,760 2 2,539 3 2,335 4 2,148 If the population of the small town is currently 3,000 people, how many years will it take for the population to reach 1,000 people? Round your answer to the nearest whole number.

a.) 12 years

b.) 11 years

c.) 13 years

d.) 15 years