Mathematics

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Milton has his money invested in a stock portfolio. The value, v (x), of his portfolio can be modeled with the function v (x) = 30,000 (0.78) ^x, where x is the number of years since he made his investment. Which statement describes the rate of change of the value of his portfolio? (1) It decreases 78% per year. (2) It decreases 22% per year. (3) It increases 78% per year. (4) It increases 22% per year.

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