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.)

CoormaBak9 2021-02-08 Answered
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.)
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Expert Answer

Aubree Mcintyre
Answered 2021-02-09 Author has 73 answers

Given,
Suppose you purchase an iPhone X for $720 when it initially launched. The resale value decreases 3.08% each month since launch.
So, the price of the iphoneX after 1 month =((1003.02)/100)720
=0.9692720
Again,the price of the iphoneX after 2 months =((1003.08)/100)0.9692720
=0.96922720
Therefore, the price of the iphone X after t month =0.9692t720
=0.97t720
p(t)=0.97t720

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