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irina1246 [14]
3 years ago
10

A travel trailer is bought at the price of $35,000. The price decreases at the rate of .25 every year (t). The exponential expre

ssion is 35,000(.75)^t. Find the price of the trailer at 5 years.
Mathematics
1 answer:
Debora [2.8K]3 years ago
3 0

Answer:

$ 8300 (Approximately)

Step-by-step explanation:

Given:

Initial price of the trailer is, P_0=\$35000

Rate of decrease per year is, r=0.25

The time in years is, t=5

The exponential expression for the decrease in price after 't' years is given as:

P=P_0(1-r)^t

Plug in all the given values and solve for 'P'. This gives,

P=35000(1-0.25)^5\\P=35000(0.75)^5\\P=35000(0.2373)\\P=\$8305.5\approx \$8300

Rounding it to the nearest whole number, the price of the travel trailer after 5 years is $ 8,300.

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