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an investment of 12,000 is losing value at a rate of 4% each year. what is the exponential function to model the situation after 9 years

Sagot :

Answer:

Amount after 9 year = 8,310 (Approx.)

Step-by-step explanation:

Given:

Amount invested = 12,000

Rate on decline = 4% per year = 0.04

Number of year = 9

Find:

Amount after 9 year

Computation:

A = P[1+r]ⁿ

A = 12,000[1-0.04]⁹

A = 12,000[0.96]⁹

A = 12,000[0.6925]

Amount after 9 year = 8,310 (Approx.)

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