The value of a car with an initial purchase price of $15,250 depreciates by 16% per year. How much is the car worth after 6 year
s? Find f(6):
a=15,250
r=0.016
x=6
Please correct me if my rate is wrong please provide the work.
1 answer:
Answer:
$13842.43
Step-by-step explanation:
Given data
Value of car=$15,250
Rate of depreciation= 16%
Time = 6 years
We can use the exponential function below to model the value of the car after 6 years
v(t)= a(r)^x
But r= 1-0.016----------Because the value is depreciating
a=15,250
r=0.016
x=6
Substitute
v(t)= 15250(1-0.016)^6
v(t)= 15250(0.984)^6
v(t)= 15250*0.9077
v(t)= $13842.43
Hence the value will be $13842.43 after 6 years
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