Question

7. Kathy plans to purchase a car that depreciates at a rate of 12% per year. The initial value of the car is $21.000. Write an exponential function to find the value of the car after 3 years y = lal (b] + [c])^d Please enter the appropriate values for a, b, c and d. The value after 3 years would be Round your answer two decimal places

Answer 1

Answer:

a = 21, b = 1, c = -0.12, d = 3

The value after 3 years = $14.31

Explanations:

Depreciation rate, c = -12%

c = 12/ 100 = -0.12

The initial value of the car, a = $21000

The number of years, n = 3

The value of the car after 3 years, y:

y = a ( b + c)^d

y = 21 ( 1 + (-0.12) ) ^3

a = 21, b = 1, c = -0.12, d = 3

The value after 3 years

y = 21 ( 1 - 0.12)^3

y = 21 (0.88)^3

y = $14.31