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Ira Lisetskai [31]
3 years ago
8

Manny bought a brand new car in 2012 for $28,750. If the car depreciates by 12% each year, write an exponential function to mode

l the situation, then find the value of the car in 2018.
Mathematics
1 answer:
patriot [66]3 years ago
5 0
The exponential formula for this situtation will be given by:
f(x)=ae^(-bx)
where:
a=initial price
b=rate
x=time in years
hence the formula will be:
f(x)=28750e^(-0.12x)
thus the value of the car in 2018 will be:
x=2018-2012=6 years
thus
f(6)=28750e^(-0.12*6)
f(6)=$13,994.13
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