The production of an oil well has decreased exponentially from 128,000 barrels per year 5 years ago
Question:
The production of an oil well has decreased exponentially from 128,000 barrels per year 5 years ago to 100,000 barrels per year at present.
(a) Letting t = 0 represent the present time, write an exponential equation for production y in terms of time t in years.
(b) Find the time it will take for production to fall to 70,000 barrels per year.
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