Tritan purchaed a new car in 2000 for $22,800. The value of the car ha been depreciating exponentially at a contant rate. If the value of the car wa \$10,400$10,400 in the year 2006, then what would be the predicted value of the car in the year 2016, to the nearet dollar?

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09-12-2022
Mathematics

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Tritan purchaed a new car in 2000 for $22,800. The value of the car ha been depreciating exponentially at a contant rate. If the value of the car wa \$10,400$10,400 in the year 2006, then what would be the predicted value of the car in the year 2016, to the nearet dollar?

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shomerajeshwari90 shomerajeshwari90 · Answer 1 · 2022-12-17T02:54:42-05:00

Tritan purchased a new car in 2000 for $22,800. The value of the car ha been depreciating exponentially at a constant rate then the Cost of the car in year 2016 will be $2811.

Cost price of the car = $22800

Value of the car has been depreciating exponentially, so the formula for value of the car after t years,

Here P(t) = Final value after t years

A = Cost price or initial value

r = rate of depreciation

t = duration in years

r = 100(1 - 0.87737)

r = 12.26%

Now cost of the car in year 2016 (After 16 years)

P(16) = 2810.99

= $2811

Therefore, cost of the car in year 2016 will be $2811.

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