A person bought a car for $21,062. After 3 years, the car was worth $11,985. Assume that the price is decreasing according to the continuous exponential decay model P= Po e". a. Find the annual depreciation rate, r, to the nearest tenth of a percent. b. Find the value of the car after 5 years to the nearest hundred dollars.

A person bought a car for $21,062. After 3 years, the car was worth $11,985. Assume that the price is decreasing according to the continuous exponential decay model P= Po e". a. Find the annual depreciation rate, r, to the nearest tenth of a percent. b. Find the value of the car after 5 years to the nearest hundred dollars.

Algebra & Trigonometry with Analytic Geometry

13th Edition

ISBN:9781133382119

Author:Swokowski

Publisher:Swokowski

Chapter5: Inverse, Exponential, And Logarithmic Functions

Section5.3: The Natural Exponential Function

Problem 40E

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