The selling price of a car is $13,500. Each year, it loses 11% of its value. Find the exponential function that gives the value of the car t years after its purchase. Write your answer in the form f(t)=a(b)t.
1 answer:
Answer:
Step-by-step explanation:
The formula for the exponential function is given as
Where,
base value = a = $13,500
b = 1 - % decrease = 1 - 11% = 1 - 0.11
b = 0.89
Substitute the values of a and b into the exponential function, , respectively.
Thus:
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