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

Question

What is the value of the time given this scenario?

A charitable endowment starts with $500. Each yearly it disburses 3% of its remaining funds. After a certain number of days its funds have decreased to $380.

Accepted Answer

$$t = 3285 	ext{ days}$$

Answer

$$t = 3707 	ext{ days}$$

Answer

$$t = 3151 	ext{ days}$$

Answer

$$t = 3604 	ext{ days}$$

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

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

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