Exponential Function Solving - Decay (Discrete, Mis-matched Time Units) Scenario to Rate

Question

What is the value of the rate given this scenario?

A charitable endowment starts with $300. Each yearly it disburses a certain percent of its remaining funds. After 730 days its funds have decreased to $248.

Accepted Answer

$$r = 9\%$$

Answer

$$r = 7\%$$

Answer

$$r = 4\%$$

Answer

$$r = 8\%$$

Practice: Exponential Function Solving - Decay (Discrete, Mis-matched Time Units) Scenario to Rate

On this page:

Practice:

Exponential Function Solving - Decay (Discrete, Mis-matched Time Units) Scenario to Rate

Skills that use 'Exponential Function Solving - Decay (Discrete, Mis-matched Time Units) Scenario to Rate'