Question

The value of a car decreases by 7.2% each year.

Answer 1

The car will be worth after one year is £ 5753.6.

What is exponential function?

An exponential function is defined by the formula f(x) = $a^{x}$, where the input variable x occurs as an exponent. The exponential curve depends on the exponential function and it depends on the value of the x.

The exponential function is an important mathematical function which is of the form

f(x) =  $a^{x}$

Where a > 0 and a is not equal to 1.

x is any real number.

Given

Car cost when bought A =  £ 6200

Value of a car decreases by 7.2% each year.

n = 1

r = 7.2% or 0.072

The car will be worth after one year

$y= A (1-r)^{n}$

⇒ $y =6200(1-0.072)^{1}$

⇒ $y = 6200(0.928)$

⇒ y = £ 5753.6

Hence, the car will be worth after one year is £ 5753.6.

Learn more about exponential function here

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Answer 2

5753.6 is the answer to the equation