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Hal is asked to write an exponential function to represent the value of a $10,000 investment decreasing at 2% annually. What multiplicative rate of change should Hal use in his function?
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Hal is asked to write an exponential function to represent the value of a $10,000 investment decreasing at 2% annually. What multiplicative rate of change should Hal use in his function?

User Sanjay Rathod
by
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2 Answers

5 votes

Answer:

0.98


Explanation:


User Phil Bottomley
by
7.7k points
5 votes
A decrease of 2% means only 98% of the original value lasts. Therefore Hal should multiply with 98%

To convert percentages to decimals, one has to divide by 100, and therefore
98% = 98/100 = 0.98.

Hence, Hal should multiply with 0.98.
User Thibaultcha
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8.2k points
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