The iPhone \( X \) is valued at \( \$ 1000 \) upon purchase. The value is expected to decrease by \( 14 \% \) each year What type of function is this? None of these Linear Quadratic Exponential

The iPhone \( X \) value decrease follows an exponential function. As an item depreciates, the value diminishes by a consistent percentage each year rather than a fixed amount, leading to a decrease that’s proportional to the current value. This results in a rapid decline where the value approaches zero but never quite hits it! If you want to visualize this, you can create a chart or table that shows the value of the iPhone \( X \) over the years. Start with \( \$ 1000 \) and multiply by \( 0.86 \) each year (which represents retaining \( 86\% \) of its value), and watch how quickly it drops! This can help illustrate the exponential decay that occurs in real-world situations like tech gadget depreciation.