Manny Brought a brand new car in 2012 for $28750. if the car depreciates by 12% each year, write n exponential function to model

Question

krek1111 [17]

4 years ago

11

Manny Brought a brand new car in 2012 for $28750. if the car depreciates by 12% each year, write n exponential function to model

the situation, then find the value of the car in 2018

Mathematics

1 answer:

alexira [117] · Answer 1 · 2021-12-28T05:33:12+03:00

alexira [117]4 years ago

8 0

The formula for exponential decay is
$y=a(1-r)^{x}$

where a is the initial value (28750)
r is the rate of decrease (0.12)
x is the time, in this case in years (6 . 2018-2012 = 6 years)

$y=28750(1-0.12)^{6}$

<span>y </span>≈ <span>13351.62</span>