The function $f$ gives the value, in dollars, of a certain piece of e…

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f (x) = 3, 950 (0.38)^{\frac{x}{12}}

The function

f

gives the value, in dollars, of a certain piece of equipment after

x

months of use. If the value of the equipment decreases each year by

p

% of its value the preceding year, what is the value of

p