Question

The new iPhone 3.14 is being sold at the UT Math Department. The original price is $1100 (day 0), but they are going to decrease the price of the phone by x percent each day. You decided to wait until the price dropped to $67.59 on the 16th day to purchase yours.

What was the daily percent decrease that the UT Math Department set for the iPhone 3.14?

Answer 1

Holy smoke! How outdated is that question?? iPhones are up to XR, XS, 11, and 11 Pro. Be sure to ask your teacher why such outdated info is being used. This is like asking about Windows Vista instead of Windows 10!

The math is a good exercise. Please wait for a math tutor to come online.

Answer 2

A = Accumulated amount = 67.59

P = Initial amount = 1100

r = rate

t = elepsed time = 16

A = P ( 1 - r )ᵗ

67.59 = 1100 ( 1 - r )¹⁶

67.59 / 1100 = ( 1 - r )¹⁶

¹⁶√ ( 67.59 / 1100 ) = 1 - r

r = 1 - ¹⁶√ ( 67.59 / 1100 )

r = 1 - 0.84

r = 0.16

r = 0.16 ∙ 100%

r = 16%

Answer 3

holy smoke! How outdated is your vocabulary