Answer:
The value of r will be 0.043
Step-by-step explanation:
Firstly, we need to write the exponential decay formula
the general form of the formula is;
A = P(1-r)^t
where A is the price after a certain year t
P is the initial value
r is the decay rate
t is the time
From the question, we have that;
r = 4.3%
4.3% in decimal will be 4.3/100 = 0.043
