RebeckahS232055 RebeckahS232055

30-10-2022
Mathematics

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4) Daniel purchased land for $7,000 in 1998. The value of the land depreciated by 2% each year thereafter. Use an exponential function to find the approximate value of the land in 2006

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RaynaT750800 RaynaT750800

30-10-2022

Answer:

The approximate value of land in 2006 is $5,955

Explanation:

We are told that the land depreciates in value by 2% each year, meaning after one year its value will be 98% value of the previous year.

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