Question

Help please. .....................

Answer 1

we can use formula

$y=ab^x$

now, we can find a and b

Initially , price is 500

so,

At $x=0,y=500$

$500=ab^0$

$a=500$

now, we can plug back

$y=500(b)^x$

At $x=3,y=10$

we can use it and find b

$10=500(b)^3$

now, we can solve for b

and we get

$b=0.27144$

so,

annual depreciation rate is 27.144%.......Answer