An investment of $8200 loses value at a rate of 2% per year. Use an exponential function to find the value of the investment after 9 years.

6836.73

Step-by-step explanation:

The equation you need to solve this goes as follows

PV(1-i)^n

so we have

8200(1-.02)^9

put this into your calculator and get

6836.73

take the logarithm of both sides (the base of the log doesn't matter):

apply the exponent property - this says that :

distribute the log terms on both sides:

group like terms together:

divide through both sides by the coefficient on :

you can do some additional rewriting here using the properties of the logarithm to simplify things if you like: