Algebra 2 (1st Edition)

Published by McDougal Littell
ISBN 10: 0618595414
ISBN 13: 978-0-61859-541-9

Chapter 7 Exponential and Logarithmic Functions - 7.2 Graph Exponential Decay Functions - Guided Practice for Examples 3 and 4 - Page 488: 8



Work Step by Step

Let $x$ be the number of years since the purchase. Then our initial amount is $y$,and the percent decrease is: $0.07$. Then the equation for the price is: $3000=y(1-0.07)^3\\y=\frac{3000}{(1-0.07)^3}\approx3729.7$
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