Concept explainers
To find: the error in given solution.
Answer to Problem 32E
The error is in the model for exponential decay function for the given data.
Correct function is
Explanation of Solution
Given:
The value of car decreases by 14% annually. The purchase value of car in 2010 is $25,000.
Then, value of car in2015 is:
So, value of car in 2015 is $48,000.
Concept used:
Exponential decay function:
Here, the y is the final value, a is the initial value, and r is the rate of decay (in decimal form).
Calculation:
The error here is in the model for exponential growth function for the given data.
Here,
So, the correct function is
Then, value of car in 2015 is:
So, value of car in 2015 will be about $11,760.
Chapter 6 Solutions
BIG IDEAS MATH Integrated Math 1: Student Edition 2016
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