You buy a used car for $12,000. It depreciates at a rate of 15% per year. If this trend continues.....

Question

a) Write an exponential decay function that models the profit in dollars over time.
b) What is the value of the car after 1 year? Write only the number with no comma.
c) What is the value of the car after 5 years? Write only the number with no comma.

Answer 1

if it loses 15% each year, then it retains 85%. So,
(a) y = 12000 * 0.85^x
now use that for the rest