SOLUTION: a) In 2006 a new Ford Focus costs $15,574. The value of a focus decreases exponentially over time. Write a Formula for the value of a Focus that was new in 2006. (You don't know th
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Question 1058294: a) In 2006 a new Ford Focus costs $15,574. The value of a focus decreases exponentially over time. Write a Formula for the value of a Focus that was new in 2006. (You don't know the value of the decay factor yet).
So would I use this formula:
P(2006)= 15,574(1-b)^1
b) A 2 year old Focus costs $11,788. Find the decay factor and percent rate of depreciation.
c)How much would a 4 year old Focus cost?
Answer by josgarithmetic(39623) (Show Source): You can put this solution on YOUR website!
b will contain the decay factor if you are using that formula shown. You have two points, (t,P). Try re-handling the variable so you have t=0 for year 2006 and t=2 for year 2008. Your two points are (0,15574) and (2,11788).
You choose the base you want, but
, but not sure if this is necessary.
Look at the second point:
for model as .
You can break the b into its percents pieces as . This is a yearly decrease of 13%.
The four-year value would be the evaluation .
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