Solution:
Given that the initial cost price of the jewelry is $2,200.
The rate at which it decreases each year is 12%.
Thus, the exponential decay function is;
[tex]\begin{gathered} y(t)=2200(1-0.12)^t \\ \\ \text{ Where }t\text{ is the time in years.} \end{gathered}[/tex]
The graph of the function is;
From the graph;
CORRECT OPTION:
[tex]\approx899.09[/tex]
