If the price of the car is $22,500 in 2000. Then the value of the car in 2011 with a decay of 5% every year is $12,798.
What is an exponent?
Exponential notation is the form of mathematical shorthand which allows us to write complicated expressions more succinctly. An exponent is a number or letter is called the base. It indicates that the base is to raise to a certain power. X is the base and n is the power.
A car was purchased in 2000 for $22,500.
It has depreciated at a rate of 5% per year.
Then the price of the car in 2011 will be
The decay function is modeled as
[tex]\rm A = P(1-r)^t[/tex]
The number of years has been passed is 11.
Then we have
[tex]\rm A = 22,500(1-0.05)^{11}\\\\A = \$ \ 12798[/tex]
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