Answer:
6440.5
Exponential Functions:
y=ab^x
y=ab
x
a=\text{starting value = }16200
a=starting value = 16200
r=\text{rate = }14.25\% = 0.1425
r=rate = 14.25%=0.1425
\text{Exponential Decay:}
Exponential Decay:
b=1-r=1-0.1425=0.8575
b=1−r=1−0.1425=0.8575
\text{Write Exponential Function:}
Write Exponential Function:
y=16200(0.8575)^x
y=16200(0.8575)
x
Put it all together
\text{Plug in time for x:}
Plug in time for x:
y=16200(0.8575)^{6}
y=16200(0.8575)
6
y= 6440.5029995
y=6440.5029995
Evaluate
y\approx 6440.5
y≈6440.5
