The product of 5 and a number K is less than 60
1 answer:
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Given:
Initial value of new car = $17,500
Depreciation rate = 4.6%
To find:
The value of car after 4 years.
Solution:
The exponential decay model is
where, a is initial value, r is decreasing rate and t is time in years.
Substitute a=17500, r=0.046 and t=4 in the above equation.
The value of car after 4 years is $14495.44.
Therefore, the correct option is D.