Question

A new car costs $34,000 and its value depreciates at 14% of its value each year. What is the decay factor for the value of this car? What will be the price of the car after 10 years?

Answer 1

The price of the car after 10 years is $7524.25 if the new car costs $34,000 and its value depreciates at 14% of its value each year.

What is an equation?

An equation is an expression that shows the relationship between two or more variables and numbers.

Let y represent the value of the car after x years. A new car costs $34,000 and its value depreciates at 14% of its value each year. Hence:

y = 34000(0.86)ˣ

After 10 years:

y = 34000(0.86)¹⁰ = 7524.25

The price of the car after 10 years is $7524.25 if the new car costs $34,000 and its value depreciates at 14% of its value each year.

Find out more on equation at: brainly.com/question/13763238

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