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krek1111 [17]
3 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]3 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>
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