Question

Mitchell purchased a car in 2008 for $25,980. The function y 25,980(0.88y represents the depreciated value of the car after t years since 2008. What is the approximate value of the car in 2012?

Answer 1

Answer:

$\ 15,580.09$

Step-by-step explanation:

we know that

The exponential decay function that represent the depreciated value of the car is given by

$y=25,980(0.88^t)$

where

y is the depreciated value of the car

t is the number of years since 2008

What is the approximate value of the car in 2012?

Find the value of t

$t=2012-2008=4\ years$

substitute in the equation

$y=25,980(0.88^4)=\ 15,580.09$