A used car has a value of $15,250 when it is purchased in 2012. The value of the car decreases at a rate of 7.5% per year.

Write an exponential function that models the value of the car, y, over x years.

To the nearest cent, what will be the value of the car after eight years?

Question

Mathematics

Jaylen Jenkins

3 November, 16:12

A used car has a value of $15,250 when it is purchased in 2012. The value of the car decreases at a rate of 7.5% per year.

Write an exponential function that models the value of the car, y, over x years.

To the nearest cent, what will be the value of the car after eight years?

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Answers (1)

Know the Answer?

Lucas Rodgers · Answer 1

The given P=15250

r=7.5/100=0.075

t=x

y = 15250 * (1 - 0.075) ^x

after 8 years we would have

x = 8

y = 15250 * (1 - 0.075) ^8

y = $8,173.42

after 8 years the value of the car would be $8,173.42

A used car has a value of $15,250 when it is purchased in 2012. The value of the car decreases at a rate of 7.5% per year.Write an exponential function that models the value of the car, y, over x years.To the nearest cent, what will be the value of the car after eight years?

A used car has a value of $15,250 when it is purchased in 2012. The value of the car decreases at a rate of 7.5% per year.

Write an exponential function that models the value of the car, y, over x years.

To the nearest cent, what will be the value of the car after eight years?