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Shtirlitz [24]
3 years ago
15

Cody purchased a car for $4500 that will depreciate 28% a year. Write an exponential growth/decay equation that represents the v

alue of Cody's car overtime. How much will the car be worth in 15 years? Round to the nearest cent.
Mathematics
1 answer:
Ostrovityanka [42]3 years ago
5 0

Answer:

$32.60

Step-by-step explanation:

This question has to to do with exponential decay. The formula is given as:

y = a(1 - r)^x

y = Value of the material after x years

a = Initial value of the material

x = Time in years

r = rate of depreciation or decay

Therefore,

y = 4500 × (1 - 0.28)¹⁵

y = 4500 × 0.72¹⁵

y = $32.598675906

y = Approximately = $32.60

Therefore the of the car after 15 years = $32.60

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