A financial survey estimated that, on average, the retail value of a mid-sized car decreases 8% annually. If the value of a mid-
sized car in a particular year is $15,600, which equation represents its value (V) after n years?
2 answers:
V=15600*(0.92)^n
where v is value and n is years
Answer:
represents its value (V) after n years.
Step-by-step explanation:
Rate of decrease = 8%
Original Value = a = $15600
Time = n years
Now we are supposed to find which equation represents its value (V) after n years
Formula : ![y=a(1-b)^n](https://tex.z-dn.net/?f=y%3Da%281-b%29%5En)
where a is original value
b is decay rate
n is time
y is value after n years i.e. V
So, ![V=15600(1-0.08)^n](https://tex.z-dn.net/?f=V%3D15600%281-0.08%29%5En)
![V=15600(0.92)^n](https://tex.z-dn.net/?f=V%3D15600%280.92%29%5En)
Hence
represents its value (V) after n years.
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