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LekaFEV [45]
3 years ago
11

Jackson purchases a new car for $48,000. The car's value can be modeled by the

Mathematics
1 answer:
vekshin13 years ago
8 0

We have been given that Jackson purchases a new car for $48,000. The car's value can be modeled by the  following exponential function: y = 48000(0.76)^t where y represents the car's  value and t represents time in years. We are asked to find the decay rate as a percentage.

We know that an exponential decay function is in form y=a\cdot (1-r)^x, where,

y = Final value,

a = Initial value,

r = Decay rate in decimal form,

x = time.

Upon comparing our given function y = 48000(0.76)^t with standard decay function  y=a\cdot (1-r)^x, we can see that 1-r=0.76.

Let us solve for r.

1-1-r=0.76-1

-r=-0.24

r=0.24

Let us convert 0.24 into percentage.

0.24\times 100\%=24\%

Therefore, the decay rate is 24%.

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