Answer: A = 19524.63
Step-by-step explanation:
Since the car depreciate in value , the exponential function to model the situation will be
A = P[tex](1-r)^{n}[/tex]
Where :
A = amount after n years
P = principal
r = rate %
n = number of years
substituting each values , the exponential function to model the situation becomes:
A = 35000[tex](1-0.08)^{n}[/tex]
To find the value of the car in 2015 , it means we are finding the value after 7 years, therefore , when n = 7
A = 35000([tex](1-0.08)^{7}[/tex])
A = $19524.63
Therefore , the amount in 2015 will be A = $19524.63
