Question

Tomas has 2 cars. the value today of 1 car is 21000 dollars. the value of this car decreases exponentially by 18% each year. calculate the value of this car after 5 years. give your answer to the nearest hundred dollars​

Answer 1

Answer:

7786

Step-by-step explanation:

f(x)=21000(1-0.18)^5

Answer 2

Using the exponential Decay function, the final value of the car after 5 years, with an exponential decrease of 18% will be $7785.54

The exponential deacy function can be represented as :

• Y = a(1 - b)^t
• Where, Y = final amount
• a = initial value = 21000
• b = Decay rate = 18% = 0.18
• t = time = 5 years

Substituting the values into the function ::

Y = 21000(1 - 0.18)^5

Y = 21000(0.82)^5

Y = 21000(0.3707398432)

Y = 7785.5367072

Therefore, the final value of the car after 5 years will be $7785.54

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