Question

20 PTS

Answer 1

Answer:

399 cars will be sold in 2020

Step-by-step explanation:

Using exponential decay formula:

$y = a(1 - r)^{x}$

a = intial value at 2012 : 500

r = 2.8 %

$= \frac{2.8}{100} = 0.028$

x = time interval : 8

$y = 500 (1 - 0.028)^{8} \\y = 500 (0.972)^{8}\\y = 500 (0.797)\\ y = 399$