Question

The selling price of a car is $13,500. Each year, it loses 11% of its value. Find the exponential function that gives the value of the car t years after its purchase. Write your answer in the form f(t)=a(b)t.

Answer 1

`f(t) = 13,500(0.89)^t`

Explanation:

The formula for the exponential function is given as
`f(t) = a(b)^t`

Where,

base value = a = $13,500

b = 1 - % decrease = 1 - 11% = 1 - 0.11

b = 0.89

Substitute the values of a and b into the exponential function,
`f(t) = a(b)^t`, respectively.

Thus:

`f(t) = 13,500(0.89)^t`