Answer:
<em>The per-pupil spending will be approximate $8,300 in 4 years</em>
Step-by-step explanation:
<u>Exponential Model</u>
The exponential function is often used to model natural growing or decaying processes, where the change is proportional to the current quantity.
An exponential decaying function is expressed as:
Where:
C(t) is the actual value of the function at time t
Co is the initial value of C at t=0
r is the decaying rate, expressed in decimal
The statistics of the years 2019-2020 at North Carolina indicate initial spending of Co=10,632 per student. The decaying rate is r=6% = 0.06 per year, thus the exponential model is:
where t is expressed in years.
We are required to know the expected spending for t= 4 years. Substitute t=4:
The per-pupil spending will be approximate $8,300 in 4 years