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

Question

Prompt

The function f gives the value, in dollars, of a certain piece of equipment after x months of use:

f (x) = 7, 020 (0.28)^{\frac{x}{12}}

. If the value of the equipment decreases each year by p% of its value the preceding year, what is the value of p?