every 6.5 years. How long, to the nearest tenth of a year, would it take for the value
of the car to be $3,800?
Using an exponential function, it is found that it would take 19.68 years for the value of the car to be $3,800.
What is an exponential function?
A decaying exponential function is modeled by:
- A(0) is the initial value.
- r is the decay rate, as a decimal, after each n years.
In this problem:
- The initial value is of $31,000, hence A(0) = 31000.
- It depreciates by one-half every 6.5 years, hence r = 0.5, n = 6.5.
Then, the equation is:
The value would be of $3,800 at t for which A(t) = 3800, hence:
t = 19.68.
It would take 19.68 years for the value of the car to be $3,800.
More can be learned about exponential functions at https://brainacademy.pro/question/25537936
I do not have one, I apologize.