Answer:
1165498 cents
Step-by-step explanation:
Recall that the general form of an exponential decay function is in the form:
value after x years = a(1-r)^x
where a = initial value, r = decay rate and x is the time elapsed
in our case,
initial value : a = 22300 dollars
decay rate : r = 10.25% or 0.1025 per year
time elapsed : x = 6 years
substituting into the formula
value after 6 years
= 22300 (1-0.1025)^6
= 22300 (0.8975)^6
= 22300 (0.52264493)
= 11654.98198 dollars
= 1165498.198 cents
= 1165498 cents (rounded off to nearest cent)
