Answer:
Step-by-step explanation:
Part A:
The equation modeling the problem is an exponential equation of the form:
y = A (b) * ^ t
Where,
A: initial amount
b: decrease rate
t: time
Substituting values we have:
y = 1000 (0.80) ^ t
Part B:
For this case we substitute the value of y = 640 in the equation:
640 = 1000 (0.80) ^ t
We cleared t:
640/1000 = (0.80) ^ t
log0.80 ((0.80) ^ t) = log0.80 (640/1000)
t = log0.80 (640/1000)
t = 2 years