A car was valued at $40,000 in the year 1990. The value depreciated to $12,000 by the year 2008. A) What was the annual rate of change between 1990 and 2008? Round the rate of decrease to 4 decimal places. B) What is the correct answer to part A written in percentage form? %. C) Assume that the car value continues to drop by the same percentage. What will the value be in the year 2012 ? value = $ Round to the nearest 50 dollars.

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 3SE: The Oxford Dictionary defines the word nominal asa value that is “stated or expressed but...
icon
Related questions
icon
Concept explainers
Topic Video
Question
A car was valued at $40,000 in the year 1990. The value depreciated to $12,000 by the year 2008.
A) What was the annual rate of change between 1990 and 2008?
Round the rate of decrease to 4 decimal places.
B) What is the correct answer to part A written in percentage form?
%.
C) Assume that the car value continues to drop by the same percentage. What will the value be in the year
2012 ?
value = $
Round to the nearest 50 dollars.
Transcribed Image Text:A car was valued at $40,000 in the year 1990. The value depreciated to $12,000 by the year 2008. A) What was the annual rate of change between 1990 and 2008? Round the rate of decrease to 4 decimal places. B) What is the correct answer to part A written in percentage form? %. C) Assume that the car value continues to drop by the same percentage. What will the value be in the year 2012 ? value = $ Round to the nearest 50 dollars.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Knowledge Booster
Application of Algebra
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, calculus and related others by exploring similar questions and additional content below.
Recommended textbooks for you
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax
Intermediate Algebra
Intermediate Algebra
Algebra
ISBN:
9780998625720
Author:
Lynn Marecek
Publisher:
OpenStax College
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill