Question

Write a function for the situation discribed and find the value after 5 yrs. A $12,500 car depreciates 9% each year. Please help and thanks in advance!

Answer 1

$\bf \qquad \textit{Amount for Exponential Decay}\\\\ A=P(1 - r)^t\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{initial amount}\to &12500\\ r=rate\to 9\%\to \frac{9}{100}\to &0.09\\ t=\textit{elapsed time}\\ \end{cases} \\\\\\ A=12500(1-0.09)^t\implies A=12500(0.91)^t \\\\\\ \textit{after 5 years t = 5}\qquad A=12500(0.91)^5$

and surely you know how much that is.