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The value of a particular stock has decreased 7% per day for the past 10 days. The original price of the stock was $40 per share. Which equation describes the value of the share price of the stock as a function of t, the number of days elapsed during the 10-day period?

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Answer:

[tex]p(t) = 40( {.93}^{t})[/tex]

[tex] p(10) = 40( {.93}^{10} ) = 19.35[/tex]

The price of this stock after 10 days is $19.35.

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