9514 1404 393
Answer:
- car value: $4,953.84
- population: 446
- maybe not
Step-by-step explanation:
All of these exponential function problems use the same equation, but with different plug-in values. These can be easily accommodated by a spreadsheet or graphing calculator.
The general form of the value after t years is ...
(initial value)×(1 +annual growth rate)^(years)
The growth rate is positive for an increase, negative for a decrease.
a) Initial value: 22385; growth rate: -0.14; years: 10
value after 10 years: $22385×(1-0.14)^10 = $4953.84
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b) initial value: 290; growth rate: 0.09; years: 5
population after 5 years: 290(1+.09)^5 = 446
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c) initial value: $4000; growth rate: -0.10; years: 8
value after 8 years: $4000(1 -0.10)^8 = $1721.86
Selling the car for $1500 is selling it for <em>less than its estimated value</em>. That may not be a good decision.
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<em>Additional comment</em>
The property value of the car is not the only consideration when evaluating the sale. Other costs related to the car may come into play, and there may be tax implications.
