\( \left. \begin{array} { l } { y = a ( 1 - r ) ^ { t } } \\ { y = 100,000 ( 1 - 0.02 ) ^ { t } } \\ { y = 100,000 ( 0.98 ) ^ { t } - 4 } \end{array} \right. \)
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The model you've presented is a classic example of exponential decay, often used in situations like population decline, radioactive decay, or depreciation of assets. In this case, the initial amount is set at 100,000, and it decreases by 2% (indicated by the \( r = 0.02 \)). This formula can show how quickly resources diminish over time, making it quite handy in fields like finance and environmental studies! To avoid common mistakes while working with this type of equation, remember to keep track of your initial conditions carefully. Some individuals mistakenly switch signs when interpreting or constructing the decay function. Additionally, consider using a graph to visualize the decline—seeing the curve drop can help reinforce your understanding of how exponential decay works over time, allowing you to better predict outcomes or make informed decisions.