SOLUTION: A vehicle depreciates at a rate of 25% per year. A new car was purchased for $28 500. Write an exponential function to model the depreciated value of the vehicle, where y is th

Algebra ->  Exponents -> SOLUTION: A vehicle depreciates at a rate of 25% per year. A new car was purchased for $28 500. Write an exponential function to model the depreciated value of the vehicle, where y is th      Log On


   

Question 1156772: A vehicle depreciates at a rate of 25% per year. A new car was purchased for $28 500.
Write an exponential function to model the depreciated value of the vehicle, where y is the value of the vehicle and x is the number of years since purchased.
Use your equation in part a to determine the value of the vehicle after 4 years, to two decimal places.
Answer by josgarithmetic(39613) About Me  (Show Source):
You can put this solution on YOUR website!
Depreciates 25% each year means, keeps 75% each year.
y=p%283%2F4%29%5Ex


$28500 through 4 years:
y=28500%283%2F4%29%5E4
9017.58