Question

Your bike was originally purchased for $1,200. It loses about 8% of its original value each year. Write an equation to represent this exponential function with appropriate values.

Answer 1

y= 1200(0.92)^x

Explanation:

Given data

Cost price= $1200

Rate of decrease= 8%

Let the time be x

The expression that describes an exponential function is

y= ab^x

for decrease b= 1-r

y= 1200(1-0.08)^x

y= 1200(0.92)^x

Hence the expression is

y= 1200(0.92)^x