Enrique estimates that his utilities will cost him $86.00 per month over the courses of the next 3 years. What is his total esti
2 answers:
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The <em><u>correct answer</u></em> is:
Explanation:
An exponential function is of the form
, where a is the initial population, b is 1 plus the amount of yearly change, and x is the number of years.
For our problem, a, the initial population, is 1500.
The yearly change is 6.3%; 6.3% = 6.3/100 = 0.063. Since it is decreasing, this is negative; 1+(-0.063) = 0.937.
We use t as the number of years.
This gives us