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This problem involves population decay, and we can solve it using the formula for exponential decay:

\[
P(t) = P_0 (1 - r)^t
\]

Where:
- \( P_0 \) is the initial population (200,000),
- \( r \) is the rate of decrease (8% = 0.08),
- \( t \) is the number of years (5 years),
- \( P(t) \) is the population after \( t \) years.

Let's calculate the population after 5 years:

\[
P(5) = 200,000 \times (1 - 0.08)^5 = 200,000 \times 0.92^5
\]

Now, calculating this:

\[
P(5) = 200,000 \times 0.659081
\]
\[
P(5) \approx 131,816.2
\]

The population after 5 years is approximately 131,816 people. To find how many **fewer** people there are compared to now, subtract this from the initial population:

\[
200,000 - 131,816.2 \approx 68,184
\]

So, approximately **68,200 fewer people** will live in Oxington after 5 years (rounded to 3 significant figures).

Do you want more details or have any questions?

### Related Questions:
1. How does population decay differ from growth in terms of modeling?
2. What is the impact of compounding in exponential models like this one?
3. How would the population be affected if the rate of decline were 10% instead of 8%?
4. What if the population decreased at 8% for only 3 years? How would this change the result?
5. How could this model be applied to financial scenarios like depreciation?

**Tip:** Always check if a problem involves compounding or simple linear decrease when dealing with rates!

The town of Oxington currently has a population of 200,000. Each year, the population of Oxington will reduce by 8%. How many fewer people will live in Oxington in 5 years compared with now? Give your answer to 3 s.f.

This page explains how to calculate the population of Oxington after 5 years with an 8% annual decrease. The problem uses the exponential decay formula P(t) = P_0(1 - r)^t and involves subtracting the final population from the initial value to find the reduction. Suitable for Grades 9-12.

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