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.

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.

Question
Forms of linear equations
asked 2021-03-02
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.

Answers (1)

2021-03-03
\(y=a(1-r)^t\)
\(y=25000(1-0.15)^t\)
\(t=6\)
\(y=25000(1-0.15)^{6}\)
\(y=9428.74\)
0

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