Write an exponential function to model the situation. The value of a car is $18000 and is depreciating at a rate of 12% per year.V(t)=18000(.88)tV(t)=.88(18000)tV(t)=.12(18000)tV(t)=18000(.12)t
Q. Write an exponential function to model the situation. The value of a car is $18000 and is depreciating at a rate of 12% per year.V(t)=18000(.88)tV(t)=.88(18000)tV(t)=.12(18000)tV(t)=18000(.12)t
Identify Values: Identify the initial value a and the rate of depreciation r. The initial value of the car is $18,000, which is the value when t=0. The rate of depreciation is 12% per year, which means the car loses 12% of its value each year.
Convert to Decimal: Convert the rate of depreciation to a decimal.To convert a percentage to a decimal, divide by 100.12% as a decimal is 10012=0.12.
Determine Decay Factor: Determine the decay factor b. Since the car is depreciating, we subtract the rate of depreciation from 1 to find the decay factor. b=1−rb=1−0.12b=0.88
Write Exponential Decay Function: Write the exponential decay function.The general form of an exponential decay function is V(t)=a(b)t, where V(t) is the value after t years, a is the initial value, and b is the decay factor.Substitute the values of a and b into the equation.V(t)=18000(0.88)t
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