Ed's new car has a value of $23,500, but it is expected to depreciate at a rate of 7.5% per year. If you were to write an exponential decay function to represent this situation, what would the decay factor be? 0.925 O 7.5 92.5 1.075

Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter4: Exponential And Logarithmic Functions
Section4.CR: Chapter Review
Problem 12CC
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Ed's new car has a value of $23,500, but it is expected to depreciate at a rate of 7.5% per year. If you
were to write an exponential decay function to represent this situation, what would the decay factor
be?
O 0.925
O 7.5
O 92.5
O 1.075
Transcribed Image Text:Ed's new car has a value of $23,500, but it is expected to depreciate at a rate of 7.5% per year. If you were to write an exponential decay function to represent this situation, what would the decay factor be? O 0.925 O 7.5 O 92.5 O 1.075
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