A new car is purchased for $19,000 and over time its value depreciates by one half every 5.5 years. Write a function showing the value of the car after tt years, where the annual decay rate can be found from a constant in the function. Round all coefficients in the function to four decimal places. Also, determine the percentage rate of decay per year, to the nearest hundredth of a percent. Include the growth and increase per year

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Bruce Crauder, Benny Evans, Alan Noell
Chapter4: Exponential Functions
Section4.2: Constant Percentage Change
Problem 11SBE: Round each percentage increase or decrease that you calculate to the nearest tenth of a percent....
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A new car is purchased for $19,000 and over time its value depreciates by one half every 5.5 years. Write a function showing the value of the car after tt years, where the annual decay rate can be found from a constant in the function. Round all coefficients in the function to four decimal places. Also, determine the percentage rate of decay per year, to the nearest hundredth of a percent. Include the growth and increase per year

 

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