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Solve the Problem. -A Certain Radioactive Isotope Decays at a Rate of 2

question 69

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Solve the problem.
-A certain radioactive isotope decays at a rate of 2% per 300 years. If t represents time in years and y represents the amount of the isotope left, use the condition that y = 0.98y0 to find the value of k in the equation y = y0ekt.


Definitions:

Creditor

An individual, bank, or other entities that has lent money or extended credit to another party.

Compounded Quarterly

Calculation of interest every quarter where the interest added also earns interest in the next quarter, compounding the initial investment's growth.

Principal

Principal refers to the initial sum of money borrowed in a loan or the original amount invested, excluding any interest or dividends.

Investor

Someone or a group that puts money into ventures aiming for a return in terms of finance.

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