A new car is purchased for 17300 dollars. The value of the car depreciates at 9.25% per year. What will the value of the car be,
1 answer:
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Answer:
Option: B is the correct answer.
B) Decay, y- intercept = 3.4, rate is 34%
Step-by-step explanation:
We are given an exponential equation as follows:
We know that any exponential function of the type:
is growth function if: b>1
and is a decay function if 0< b< 1
Hence, here we have: b=0.66<1
Hence, the function is a decay function.
Also, we know that the y-intercept of a function is the point where x=0
Hence, we take x=0
we have:
Hence, the y-intercept is: 3.4
Also, the rate of a function is denoted by 'r'
where b=1-r
⇒ 0.66=1-r
⇒ r=1-0.66
⇒ r=0.34
Hence, the rate is: 34%
option: B is the correct answer.