Question
A used car has a value of $15,250 when it is purchased in 2012. The value of the car decreases at a rate of 7.5% per year.
Write an exponential function that models the value of the car, y, over x years.
To the nearest cent, what will be the value of the car after eight years?
Write an exponential function that models the value of the car, y, over x years.
To the nearest cent, what will be the value of the car after eight years?
Answers
y = 15250 * 0.925^x
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