MATH SOLVE

2 months ago

Q:
# 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, to the nearest cent, after 15 years?

Accepted Solution

A:

For this case we have an exponential equation of the form:
[tex]y = A (b) ^ x[/tex]Where,
A: initial value
b: decrease rate
x: number of years
Substituting values ββin the given equation we have:
[tex]y = (173000) (0.9075 ^{15})\\y = 4034.1[/tex]Answer:
The value of the car after 15 days is given by:
[tex]y = 4034.1[/tex]