Question

A new car is purchased for $14,000 and over time its value depreciates by one half every 3.5 years . Write a function showing the value of the car after t years, where the annual decay rate can be found from a constant in the function. Round all coefficients in the function to four decimal places. Also, determine the percentage rate of decay per year, to the nearest hundredth of a percent.

Answer 1

The percentage rate of decaf per year to the nearest hundredth of a percent is %92.82