An exponential decay function is:

f=ir^t, f=final amount, i=initial amount, r=common ratio, t=number of times ratio is applied...We can see the initial value is 17000 so all we really have to find is the common ratio, or "rate" as some call it :P If we look at the second point, when t=1 we can see:

14280=17000r

r=357/425

r=0.84

So in five years the SUV will be worth more than the car by:

17000(0.84^5)-12000(0.89^5)

$408.73 (to the nearest cent)

5 0

3 years ago

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Logan wants to have $130,000 to pay for a surgery on his retractable forearm claws in 30 months. If he can invest money in an ac

dangina [55]

Answer: $107,836.69 or about $107,837 (to the nearest dollar)

Step-by-step explanation:

Formula to the accumulated amount received after investing principal amount (P) at rate of interest (r) compounded monthly for t months :

$A=P(1+\dfrac{r}{12})^{t}$

As per given , A = $130,000

r= 7.5% = 0.075

t= 30 months

Now,

$130000=P(1+\dfrac{0.075}{12})^{30}\\\\\Rightarrow 130000=P(1+0.00625)^{30}\\\\\Rightarrow 130000=P(1.00625)^{30}\\\\\Rightarrow 130000=P \times1.20552661036\\\\\Rightarrow\ P=\dfrac{130000}{1.2055266}=107,836.69$

Hence he need to invest $107,836.69 .

8 0

4 years ago