Question

Fred bought a fancy lawnmower, paying $4,599.00. (Because $4,600.00 would have been just too much to spend!) One
year later he took it back to the dealer with the intention of trading it in on a newer, fancier model. The dealer offered him
$3,000 to trade it in. Fred still owed $4,000 on the mower, so he decided to keep it. Now he wants to create a
mathematical model to estimate the value of the mower t years after he originally purchased it. He knows an exponential
growth/decay model is appropriate. Which of the following equations can Fred use to find the appropriate growth/decay
constant?
A) 4599 4000e^k
B) 3000 4599e^k
C)4000 = 3000e^k
D 3000 4000e^k
E 4599 3000e^k

Answer 1

The equation that can be used to find the exponential decay is 3000 = 4599e^k.

What is the equation that can be used to find the decay constant?

The lawn mower is decreasing in value, thus it is the decay constant that would be found.

The formula that can be used to find the value of an asset that decays exponentially is:

Future value = present value x (e^k)

3000 = 4599e^k.

To learn more about exponential functions, please check: https://brainly.com/question/26331578

#SPJ1