Question

# Write an exponential growth or decay function to model each situation. Then find the value of the function after the given amount of time. A new car i

Exponential growth and decay
Write an exponential growth or decay function to model each situation. Then find the value of the function after the given amount of time. A new car is worth \$25,000, and its value decreases by 15% each year; 6 years.

2021-05-10
$$y=a(1-r)^t$$
$$y=25000(1-0.15)^t$$
$$t=6$$
$$y=25000(1-0.15)^{6}$$
$$y=9428.74$$