Question

Melissa bought a car for $55000 and it is decreasing at a rate of 3.29% yearly. Createan exponential function in y = ab that represents the depreciation of the car yearlywhere (x) represents years. (express factor to the nearest thousandths...3 places afterdecimal)

Answer 1

Solution

For this case we can do the following:

$y=55000(1-0.032)^t$

And the solution would be:

$y=55000(0.968)^t$