Answer:
$542
Step-by-step explanation:
we know that
The equation of a exponential decay function is given by
[tex]y=a(1-r)^x[/tex]
where
y is the value of the lawnmower
x is the time in years
a is the initial value
r is the rate of change
we have
[tex]a=\$600\\r=2\%=2/100=0.02[/tex]
substitute
[tex]y=600(1-0.02)^x[/tex]
[tex]y=600(0.98)^x[/tex]
For x=5 years
[tex]y=600(0.98)^5=\$542[/tex]
