Toby just graduated from four years of college. at the beginning of each year, he took out a stafford loan with a principal of $
1 answer:
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Answer:
-Exponential Decay
-Decay factor is (1-0.05)
Step-by-step explanation:
-Given that the number decreases by a defined rate each year from the initial size by 5%,
-This is an exponential decay function of the form:
Where:
is the quantity/size after time t
is the initial size
is the rate of decay
-Our function can the be written as
Hence, the decay rate/factor is 0.05
#Alternatively
The exponential decay can be of the form:
Where:
y is the size at time x, a is the initial size, x is time and b is the decay factor.
b is of the form
Hence, the decay factor is (1-0.05)