Question

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Exponential Growth/Decay Function
The value of a car is $21,500. It loses 12% of its value every year.
(a) Write a function that represents the value y (in dollars) of the car after x years. (b) Use the function to estimate the value of the car after 6 years. (round your answer to the nearest whole number)

Answer 1

Did you get the answer for part b?

Answer 2

(a) 21500(0.88) ᣔx
y = A(1-r)ᣔx
= 21500 (1-0.12) ᣔx
= 21500(0.88) ᣔx

(b) $9,985
21500(0.88) ᣔ6 = 9985
· 0.88ᣔ6 = 0.46440408
· 21500 * 0.46440408 = 9984.68 -> 9985

I this right