Question

Two years ago, Marc bought a new cell phone. His purchase price was $750. The value of the phone for the next 2 years was $637.50 and $541.88, respectively. Find the exponential function that represents the value of Marc’s phone t years after it was purchased.(1 point)
Responses

f(t)=750⋅0.85t

f left parenthesis t right parenthesis equals 750 times 0.85 superscript t baseline

f(t)=637.50⋅0.85t

f left parenthesis t right parenthesis equals 637.50 times 0.85 superscript t baseline

f(t)=750⋅1.15t

f left parenthesis t right parenthesis equals 750 times 1.15 superscript t baseline

f(t)=750⋅0.85t

f left parenthesis t right parenthesis equals 750 times 0.85 t

Answer 1

f(t) = 750(0.85)^t

Reason: 637.50/750 = 0.85, so the phone loses 15% per year. Each year multiply by 0.85, with initial value 750.