Answer:The starting value is 20,300, and the value is decreasing by 9.5% each year.
Because it decreases by 9.5% each year based on the previous amount, we use an exponential decay model.
A decrease by 9.5% corresponds to multiplying by 91.5% each year.
We write . We plug in 11 years for t.
$7,671.18
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Step-by-step explanation:
Answer:
The starting value is 20,300, and the value is decreasing by 9.5% each year.
Step-by-step explanation:
Because it decreases by 9.5% each year based on the previous amount, we use an exponential decay model.A decrease by 9.5% corresponds to multiplying by 91.5% each year.We write . We plug in 11 years for t.
