Question

A new car is purchased for 20700 dollars. The value of the car depreciates at 13.75% per year. What will the value of the car be, to the nearest cent, after 12 years?

Answer 1

`\bf \qquad \textit{Amount for Exponential Decay}\\\\ A=P(1 - r)^t\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{initial amount}\to &20700\\ r=rate\to 13.75\%\to (13.75)/(100)\to &0.1375\\ t=\textit{elapsed time}\to &12\\ \end{cases} \\\\\\ A=20700(1-0.1375)^(12)\implies A=20700(0.8625)^(12)`

Answer 2

y≈3508.16

Explanation: