Question

Suppose that a phone that originally sold for $800 loses 3/5 of its value each year after it is released.

Write an equation for the value of the phone, p, t years after it is released. Use ^ to denote exponents.

Answer 1

`p = 800 (2)/(5) ^(T)`
Explanation:

Let's assume that the initial value of the phone is $800, and that its value decreases by 3/5 each year.

After one year, the phone will be worth 2/5 of its initial value:

$800 x (2/5) = $320

After two years, the phone will be worth 2/5 of its value after one year:

$320 x (2/5)^1 = $128