Identify Components: Identify the components of the function P(x). The function P(x) is given as P(x)=2,500(0.98)x. This is an exponential decay function where 2,500 is the initial amount, 0.98 is the base of the exponential, and x is the exponent representing the number of time periods.
Confirm Structure: Confirm the structure of the function.The function is already simplified and in the correct form. There is no need for further simplification or manipulation of the expression. It is an exponential function where the value of P(x) will decrease as x increases due to the base 0.98 being less than 1.
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