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
ANSWERED
asked 2021-05-08
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.

Expert Answers (2)

2021-05-10
Answer is given below
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Best answer
2021-08-04

\(y=a(1-r)^t\)
\(y=25000(1-0.15)^t\)
\(t=6\)
\(y=25000(1-0.15)^{6}\)
\(y=9428.74\)

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