SOLUTION: A car is sold for $26,000. After one year, the value of the car is $14,300. Write an exponential function y to determine the value of the car after x years if the rate of decrease

Question 1055967: A car is sold for $26,000. After one year, the value of the car is $14,300. Write an exponential function y to determine the value of the car after x years if the rate of decrease is the same each year.
y = ________
Estimate the value of the car after 4 years. Round the answer to the nearest dollar,
$ _______
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
A car is sold for $26,000. After one year, the value of the car is $14,300. Write an exponential function y to determine the value of the car after x years if the rate of decrease is the same each year.
y = a*b^x
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26000 = a*b^0
a = 26000
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14300 = 26000*b^1
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b = 0.55
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f(x) = 26000*0.55^x
----
Estimate the value of the car after 4 years. Round the answer to the nearest dollar,
f(4) = 26000*0.55^4 = $2379.16
Ans:: $2379.00
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Cheers,
Stan H.
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