Answer:
The formula for an exponential decay problem is: y = x (1 - r)^x
Where x = initial amount, r = rate of decay and x = # time periods
So, x = $258, r = 8% = .08 and x = 11 years
y = 258 (1 - 0.08)^11 = 258 (0.92)^11 = 258 * 0.3996 = $103.10
Step-by-step explanation:
