Please help! Not understanding questions

Question

A community theatre group finds that their funding is cut by 12% each year. This year, they receive $10,000 in funding from grants and donors.

1. Write an exponential function that models the situation where y is the amount of funding and x is time in years.
2. Use your equation from problem 1 to complete the chart to the right. Round to the nearest cent.

Years. Funding

0

2

4

8

12

16

1. Use your data from problem 2 to graph your equation from problem 1. (Use an x-scale of 2 and y-scale of $1000.)
2. Calculate the expected amount of funding 6 years ago. Show your calculations and consider the trend of your graph above.

Answer 1

Since % is negative; we will use 88%. c

a

10,000* .88= $8,000 1yr s

8,000*.88=7744 2yr h

7744*.88=6810 3yr t i m e

6810*0.88=5996.95 4yr

5996.95*.88=5277.32 5yr

5277.32*.88=4644.04 6yr

4644.04*.88=4086.76 7yr

40846.76*.88=3596.35 8yr

3596.35*.88=3164.78 9yr

3164.78*.88=2785.01 10yrs

2785.01*.88=2450.81 11yrs

2450.81*.88=2156.71 12yr

2156.71*.88=1897.90 13yr

1897.9*.88=1670.16 14yr

1670.16*.88=1469.74 15yrs

1469.74*.88=1293.37 16yr

In order to use formulas of a bank; "compound" , "future values", "principal", "interest", "years", "times/yr", are needed.