Question

Seamus bought a car that originally sold for $40,000. It exponentially depreciates at a rate of 7.75% per year. Write the exponential depreciation equation for this car.

Answer 1

Answer:

The exponential Depreciation equation for the car is $y=4000(1-0.0775)^x$.

Step-by-step explanation:

Given:

Original Value = $40,000

Depreciation rate = 7.75%

We need to write the exponential depreciation equation for this car.

Solution:

Now we know that the exponential function is given by;

$y=P(1-r)^x$

where;

$y$  ⇒ Value after 'x' years

$P$ ⇒ Original Value

$r$  ⇒ Depreciation Rate

$x$  ⇒ Time period.

Now substituting the given values we get;

$y=4000(1-0.0775)^x$

Hence The exponential Depreciation equation for the car is $y=4000(1-0.0775)^x$.

Answer 2

The exponential depreciation equation for this car is $40,000$(1 - 0.0775)^{n}$

Exponential depreciation refers to the constant decline of an asset by a constant percentage over a given period of time.

The formula used to represent exponential depreciation is:

FV = P (1 - r)^n

• FV = Future value  
• P = Present value  
• R = depreciation rate
• N = number of years  

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