Using an exponential function, it is found that an appliance currently valued at $1,500 will be worth $150.17 in 8 years.
<h3>What is an exponential function?</h3>
A decaying exponential function is modeled by:
![A(t) = A(0)(1 - r)^t](https://tex.z-dn.net/?f=A%28t%29%20%3D%20A%280%29%281%20-%20r%29%5Et)
In which:
- A(0) is the initial value.
- r is the decay rate, as a decimal.
In this problem, we have that:
- The appliance is currently valued at $1,500, hence A(0) = 1500.
- It loses 25% of their resale value each year, hence r = 0.25.
Thus, the equation is given by:
![A(t) = A(0)(1 - r)^t](https://tex.z-dn.net/?f=A%28t%29%20%3D%20A%280%29%281%20-%20r%29%5Et)
![A(t) = 1500(1 - 0.25)^t](https://tex.z-dn.net/?f=A%28t%29%20%3D%201500%281%20-%200.25%29%5Et)
![A(t) = 1500(0.75)^t](https://tex.z-dn.net/?f=A%28t%29%20%3D%201500%280.75%29%5Et)
In 8 years, the value will be given by:
![A(8) = 1500(0.75)^8 = 150.17](https://tex.z-dn.net/?f=A%288%29%20%3D%201500%280.75%29%5E8%20%3D%20150.17)
More can be learned about exponential functions at brainly.com/question/25537936
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