Answer:
[tex]f(t)= 27000 * 0.965^t[/tex]
Step-by-step explanation:
Given
[tex]a = 27000[/tex] -- initial
[tex]r = 3.5\%[/tex]
Required
The exponential equation
The exponential equation is
[tex]y =ab^t[/tex]
Where
[tex]b=1 -r[/tex]
We used minus, because the rate decreases..
So, we have:
[tex]b=1 -3.5\%[/tex]
[tex]b=1 -0.035[/tex]
[tex]b=0.965[/tex]
So:
[tex]y =ab^t[/tex]
[tex]y = 27000 * 0.965^t[/tex]
Hence:
[tex]f(t)= 27000 * 0.965^t[/tex]