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Suppose you purchase an iphoneX for $720 when it initially launched. The resale value decreases 3.08% each month since launch. Write an exponential function that models this situation, where t is the number of months after launch. Call it P(t). (round to the nearest thousandth.)

Question

Suppose you purchase an iphoneX for $720 when it initially launched. The resale value decreases 3.08% each month since launch. Write an exponential function that models this situation, where t is the number of months after launch. Call it P(t). (round to the nearest thousandth.)

check_circleAnswer
Step 1

Given,

          Suppose you purchase an iPhone X for $...

100-3.08 720
So, the price of the iPhone X after 1 month
100
= 0.9692 x 720
100-3.08
Again, the price of the iPhone X after 2 months
x 0.9692 x 720
1
100
= 0.96922 x 720
Therefore, the price of the iPhone X after t month = 0.9692* x 720
= 0.97* x 720
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100-3.08 720 So, the price of the iPhone X after 1 month 100 = 0.9692 x 720 100-3.08 Again, the price of the iPhone X after 2 months x 0.9692 x 720 1 100 = 0.96922 x 720 Therefore, the price of the iPhone X after t month = 0.9692* x 720 = 0.97* x 720

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Algebra

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