Luis Huerto is 39 and has a $65,000 limited payment insurance policy until age
1 answer:
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Answer:
- Decay Problem.
- Decay rate, r = 0.014
- Initial Amount =120,000
- P(10)=104,220
Step-by-step explanation:
The exponential function for growth/decay is given as:
In this problem:
The city's initial population is 120,000 and it decreases by 1.4% per year.
- Since the population decreases, it is a Decay Problem.
- Decay rate, r=1.4% =0.014
- Initial Amount =120,000
Therefore, the function is:
When t=10 years