Question

The value of a car is $18,000 and depreciating at a rate of 12% per year. Write an exponential decay function. Then find the value of the car after 10 years.

Answer 1

a.) 18000 x (0.88)^x
x=number of years

b.) value after 10 yrs is represented by
18000 x (0.88)^10 = about $5013