SOLUTION: A car purchased in 1998 is currently valued at $12000. If it has decreased in value exponentially at a rate of 4% per year, determine the original cost of the vechicle.
I do know
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Question 128065: A car purchased in 1998 is currently valued at $12000. If it has decreased in value exponentially at a rate of 4% per year, determine the original cost of the vechicle.
I do know that the formula I should use is A=Ao(1-r)^t or some variation of it but I do not know how to fill it in ???????
Answer by mr.barrett(5) (Show Source): You can put this solution on YOUR website!
= original cost
A = current value = 12000
t = time in years = 2008 - 1998 = 10
r = rate of decrease = .04
Substituting these values into we have .
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