SOLUTION: A car is sold for $24,000. After one year, the value of the car is $20,400. Write an exponential function y to determine the value of the car after x years if the rate of decrease

Algebra ->  Exponents -> SOLUTION: A car is sold for $24,000. After one year, the value of the car is $20,400. Write an exponential function y to determine the value of the car after x years if the rate of decrease       Log On


   

Question 1153208: A car is sold for $24,000. After one year, the value of the car is $20,400. 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.


Estimate the value of the car after 4 years. Round the answer to the nearest dollar
Answer by josgarithmetic(39617) About Me  (Show Source):
You can put this solution on YOUR website!
Points (x,y) are (0,24000) and (1,20400).
y=24000%2Ab%5Ex

The one-year point
20400=24000b%5E1
b=20400%2F24000
b=0.85

MODEL: highlight%28y=24000%2A%280.85%29%5Ex%29