SOLUTION: For each problem below show your work and write your answer in a complete sentence.
1) A car depreciates or loses value at the rate of 20% per year. If the car originally cost $
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Question 626920: For each problem below show your work and write your answer in a complete sentence.
1) A car depreciates or loses value at the rate of 20% per year. If the car originally cost $20,000, the depreciation can be modeled by the equation y = 20,000(0.8)^t, where y is the depreciation and t is the time in years. Find the value of the car at the end of 2 years.
2) The average growth rate of the population of a city is 7.5% per year and is represented by the formula y = A(1.075)^x, where x is the number of years and y is the most recent population. The city's population (A) is now 22,750 people. What is the expected population in 10 years?
3) How much should Sabrina invest now in a money market account if she wishes to have $9000 in the account at the end of 10 years? The account provides an APR of 6% compounded quarterly. The formula for compound interest is A = P(1 + r/n)^nt.
4) Average national teachers' salaries can be modeled using the equation y = 9.25(1.06)^n, where y is the salary in thousands of dollars and n is the number of years since 1970? What can the teacher expect to have a salary in the year 2020?
5) Suppose a researcher estimates that the initial population of a colony of cells is 100. If the cells reproduce at a rate of 25% per week, what is the expected population of the colony in six weeks? Use the formula: N = N(1 + r)^t
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!
1) Substitute 2 in place of 
and then do the arithmetic.
John
My calculator said it, I believe it, that settles it
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