Answer
The company will have around 685 employees after 5 years.
Work Step by Step
This involves exponential decay the number of employees is decreasing each year.
RECALL:
Exponential decay is represented by the formula
$y=C(1-r)^x$
where
C = initial/original amount
r = decay rate
x = number of time intervals
The given situation has:
C = 984
r = $7\%$ per year
x = 5 years
Substitute these values into the given formula above to have:
$y=984(1-7\%)^{5}
\\y=984(1-0.07)^{5}
\\y=984(0.93^{5})
\\y \approx 685$
