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A car purchased for $15,000 today will be worth 6% less each year. How much
will the car be worth at the end of 5 years? Write the exponential function to model the increase. Calculate the value of the car in 5 years

Respuesta :

Answer:

$11,008.56.

Step-by-step explanation:

6% less each year means that the car is worth (100 - 6) = 94% or 0.94 of the previous year,

The function is:

f(t) = 15000(0.94)^t   where t = the times in years.

After 5 years the value =

15000(0.94)^5

= $11008.56

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