Based on the given parameters, the value of the printer after 9 years is $3304
How to determine the value in nine years?
The given parameters about the exponential function are
Initial value, a = $7000
Depreciation rate, r = 8%
Time, t = 9
Exponential functions are different from linear functions, and they are calculated using the following exponential function
A = a *(1 - r)^t
To calculate the value in nine years, we have:
Substitute the known values in the above equation
A = 7000 * (1 - 8%)^9
Express 8% as decimal
A = 7000 * (1 - 0.08)^9
Evaluate the difference
A = 7000 * (0.92)^9
Evaluate the exponent
A = 7000 * 0.472
Evaluate the product
A = 3304
Hence, the value of the printer after 9 years is $3304
Read more about exponential function at:
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