The newest iPhone costs $1200 and loses 15% of its value every year. a.) Write an equation to model the value of the phone after x years.
b.) How much will the phone be worth after 5 years (round to the nearest
hundredth)?
c.) Apple offers a buyback program for iPhones after they are 5 years old. They
offer to buy your phone for $100. Would this be a profitable decision to sell your
phone back to Apple after 5 years? Explain your reasoning.