Concept explainers
What will her investment be worth in 6 years?
Answer to Problem 34PT
Her investment will be worth of
Explanation of Solution
Given information:
Investment amount = $3000.
Rate of losing = 3% each year.
Number of years = 6.
Calculation:
We know the exponential function equation is given by
Also
Investment amount
Decay rate
Decay factor
Plugging the value of a, b and t in exponential function equation
Therefore, her investment will be worth of approximately
Chapter 7 Solutions
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
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