Answer
$y = a(1 + r)^t$ for growth and $y = a(1 - r)^t$ for decay, where $a$ is initial amount and $r$ is rate.
Explanation
If an item depreciates by $15\%$ annually, the multiplier is $(1 - 0.15) = 0.85$, yielding $y = a(0.85)^t$.
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What is the exponential growth and decay model formula on the SAT?
Study flashcard from the deck Digital SAT: Comprehensive Practice (Math & Reading-Writing).