A naomi's car exponentially depreciates at a rate of 8% per year. if nina bought the car when it was 4-years old for $16,500, .

Question

2 years ago

6

what the approximate original of the car?

1 answer:

stich3 [128] · Answer 1 · 2023-04-24T01:12:26+03:00

The original price of the car before 4 years will be $23,032.

<h3>What is an exponent?</h3>

Consider the function:

y = P (1 ± r) ˣ

Where x is the number of times this growth/decay occurs, P = original amount, and r = fraction by which this growth/decay occurs.

If there is a plus sign, then there is exponential growth happening by r fraction or 100r %

If there is a minus sign, then there is exponential decay happening by r fraction or 100r %

A Naomi's car exponentially depreciates at a rate of 8% per year.

If Nina bought the car when it was 4 years old for $16,500.

Then the original price will be

16500 = P(0.92)⁴

16500 = 0.716P

P = $ 23,032

More about the exponent link is given below.

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