after x years, the amount is
2420 * 0.92^x
Since 2004, the amount of money spent at restaurants in a certain country has decreased at a rate of 8% each year. In 2004, about $2420 billion was spent at restaurants. If the trend continues, about how much will be spent at restaurants in 2017? Write an exponential equation and use your equation to determine your final answer. In order to earn full credit, you need to write the equation and show your work.
2 answers
2.480E9 * (1 - .08)^(2017 - 2004)