Question

What is the equation of the exponential function??

Anthony's mom bought a new Prius in 2018 that cost
$28,000. She looked up the current value and saw that
it was only $22,000 after two years! She is worried
about how much her car will be worth in 3 more years.
What is the exponential equation?
1
How much will the car be worth in 3 years?
Submit

Answer 1

• $19500

Explanation:

Let the depreciation rate is x per year, then we have:

• 28000*x² = 22000
• x² = 22000/28000
• x² = 0.7857
• x = √0.7857
• x = 0.8864

Exponential function for this case is:

• V(t) = 28000*0.8864^t, where V(t) - future value, t- number of years

Value of the car after 3 years:

• V(3) = 28000*0.8864^3
• V(3) = 19500