Aria paid 24,500 for her car. the value of the car decreases by 10.4% each year. create an equation that represents the value of v, the car, after t, years.

Question

asked Jul 20, 2022 38.5k views

2 Answers

Kevnk · Answer 1 · 2022-07-25T01:06:58+0000

Answer:

$2623.5

Explanation:

We would apply the formula for exponential decay which is expressed as

A = P(1 - r)^ t

Where

A represents the value of the car after t years.

t represents the number of years.

P represents the value of the car.

r represents rate of decay.

From the information given,

P = 24500 dollars

r = 14.75% = 14.75/100 = 0.1475

t = 14 years

Therefore

A = 24500(1 - 0.1475)^14

A = 24500(0.8525)^14

A = $2623.5