Hal is asked to write an exponential function to represent the value of a $10,000 investment decreasing at 2% annually. What multiplicative

Question

Hal is asked to write an exponential function to represent the value of a $10,000 investment decreasing at 2% annually. What multiplicative rate of change should Hal use in his function?

0.02
0.98
1.02
1.98

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Thu Hương 4 years 2021-07-21T18:09:50+00:00 1 Answers 242 views 0

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  1. thuthuy
    0
    2021-07-21T18:11:42+00:00
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    Answer

    The multiplicative rate of change that should be in Hal’s function = 49/50=0.98

                                                                                                                      =9.8×10⁻¹

    Explanation

    The investment of $10,000 decreases by 2% every year. So the following year is usually (100 – 2)=98% of the previous year. This is a geometric progression.

    In this case the first term = 10000

    The second term = 98% × 10000 = 9800.

    The common ratio = 9800/10000=49/50

    The multiplicative rate of change that should be in Hal’s function = 49/50=0.98.

    The equation of the exponential rate would be;

    10,000ₓ0.98ⁿ.

    where n is the number years.

    Hope his helps! 😉

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