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5. Landon bought a new car for $16,000 and it depreciates 4.5% every year. Write a function that describes

the value, C(t), of the car after 5 years.

User Fuu
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1 Answer

5 votes

Answer:

The value C(t) of the car after 5 years is $12709.

Explanation:

Given that Landon bought a new car for $16,000 and it depreciates 4.5% every year.

To find the value C(t) of the car after 5 years:

Initial value
C(0)= $16,000

Depreciation rate is
r=(4.5)/(100)

∴ r=0.045

Period , t=5 years


C(t)=C(0)(1-r)^t

Substitute the values we get


C(5)=16000(1-0.045)^5


=16000(0.955)^5


=16000(0.7943)


C(5)=12708.8

The value C(t) of the car after 5 years is $ 12709

User Wsn
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