Answer
The final amount after 5 years of decay is approximately $1,470$.
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 = 10,000
r = $12\%$
x = 15 years
Substitute these values into the given formula above to have:
$y=10,000(1-12\%)^{15}
\\y=10,000(1-0.12)^{15}
\\y=10,000(0.88^{15})
\\y=1,469.738539
\\y\approx 1,470$
