Question

A new truck that sells for $29,000 depreciates (decreases in value) 12% each year. What is the decay factor, b? WILL MARK BRAINLIEST PLZ ANSWER ASAP

Answer 1

Answer:

The decay factor is 0.88.

Step-by-step explanation:

The general form of an exponential decay function is

$f(x)=ab^x$

Where, a is initial value and b is decay factor.

It is given a new truck that sells for $29,000 depreciates (decreases in value) 12% each year.

The initial value is $29,000 and decay factor is

$1-r=1-\frac{12}{100}=1-0.12=0.88$

The exponential function is

$f(x)=29000(0.88)^x$

Therefore the decay factor is 0.88.

Answer 2

The fact that a newer model has been released and the demand for that specfic model has decreased along with the price.