After becoming Prime Minister of Canada, Connor decided to buy a brand- new electric Lamborghini for $280,500. Every year, his car will depreciate (go down) in value by 14%. a) Create a model to show the car's exponential decay. b) Determine how much his car will be worth by the time the next election comes around (Elections in Canada usually happen every 4 years). Remember to show all your work.

After becoming Prime Minister of Canada, Connor decided to buy a brand- new electric Lamborghini for $280,500. Every year, his car will depreciate (go down) in value by 14%. a) Create a model to show the car's exponential decay. b) Determine how much his car will be worth by the time the next election comes around (Elections in Canada usually happen every 4 years). Remember to show all your work.

College Algebra

10th Edition

ISBN:9781337282291

Author:Ron Larson

Publisher:Ron Larson

Chapter5: Exponential And Logarithmic Functions

Section: Chapter Questions

Problem 37CT: On the day a grandchild is born, a grandparent deposits $2500 in a fund earning 7.5% interest,...

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