01-03-2021
Mathematics

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Bellarachel2 Bellarachel2

01-03-2021

Answer:

The formula for an exponential decay problem is: y = x (1 - r)^x

Where x = initial amount, r = rate of decay and x = # time periods

So, x = $258, r = 8% = .08 and x = 11 years

y = 258 (1 - 0.08)^11 = 258 (0.92)^11 = 258 * 0.3996 = $103.10

Step-by-step explanation:

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