Hey there, Lets solve this together.
\(F(t)=30(0.97)^t\)
\(A=P(1+r)^t\)
The variable (R) will be representing the rate as a decimal.
When you solve for (R) multiply by 100 to get the percentage. A percentage is a rate, number, or amount in each hundred.
"0.97" will be replaced by "(97/100)"
Rearrange the equation by subtracting what is to the right of the equal sign from both sides of the given equation
\(ft - ((30)) 97/100 ) * t) = 0\)
Rewrite the whole as a fraction using 10 as the denominator :
\(ft = ft/1 = ft * 10 / 10\)
Add the two equivalent fractions which now have a common denominator
\(ft * 10 - (291t) / 10 = 10ft - 291t / 10\)
\(t * (10f - 291) / 10 = 0\)
\(t*(10f-291) / 10 * 10 = 0 * 10\)
The equation now takes the shape :
t • (10f-291) = 0
f = 291/10 = 29.100
t = 0
Positive = Growth
Negative = Decay
\(1+r = .97\)
\(r=-0.03\)