Answer:
Step-by-step explanation:
If the value of the TV decreases by 14% each year, then the rate is exponential.
We would apply the formula for exponential growth which is expressed as
A = P(1 + r/n)^ nt
Where
A represents the price of the TV after t years.
n represents the periodic rate at which the decrease is calculated.
t represents the number of years.
P represents the initial price of the TV.
r represents rate of decrease in value of the TV.
From the information given,
P = $1500
r = 14% = 14/100 = 0.14
n = 1
A = y
Therefore, the function would be
y = 1500(1 + 0.14/1)^ 1 × t
y = 1500(1.14)^t
