Answer
The final amount after 31 years of decay is approximately $8$.
Work Step by Step
RECALL:
Exponential decay is represented by the formula
$y=C(1-r)^x$
where
C = initial/original amount
r - decay rate
x = number of time intervals
The given exponential growth has:
C = 325,000
r = $29\%$
x = 31 years
Substitute these values into the given formula above to have:
$y=325,000(1-29\%)^{31}
\\y=325,000(1-0.29)^{31}
\\y=325,000(0.71^{31})
\\y=7.959617007
\\y\approx 8$
