Question

The coleman family purchased a camper van for $38,000. the van is predicted to depreciate by about 15% each year. write an exponential equation in the form y=a(b)x that can model the value of the van, y, in x years.

Answer 1

The exponential equation that can model the value of the camper van , in x years is y = 38000*(0.85)ˣ .

In the question ,

it is given that

the present value of the camper van (P₀) = $38000

given the depreciation rate is 15% each year (r)= -0.15

The future value y ,of the camper van can be given by the formula

y = P₀*(1 + r)ˣ

On putting the values , we get

y = 38000*( 1 - 0.15)ˣ

y = 38000*(0.85)ˣ

Therefore , The exponential equation that can model the value of the camper van , in x years is y = 38000*(0.85)ˣ .

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