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1. Tanya's new car sold for $23,856. Her online research indicates that the car will depreciate exponentially at a rate of per year. Write the exponential depreciation formula for Tanya's car.

1. Tanya's new car sold for $23,856. Her online research indicates that the car will depreciate exponentially at a rate of per year. Write the exponential depreciation formula for Tanya's car.

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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1. Tanya's new car sold for $23,856. Her online research indicates that the car will depreciate exponentially at a rate of per year. Write the exponential depreciation formula for Tanya's car. 2. Sharon purchased a used car for $24,600. The car depreciates exponentially by 8% per year. How much will the car be worth after 5 years? 3. Brad purchased a 5-year old car for $14,200. When the car was new, it sold for $24,000. Find the depreciation rate to nearest percent. (Use guess and check)
Transcribed Image Text:1. Tanya's new car sold for $23,856. Her online research indicates that the car will depreciate exponentially at a rate of per year. Write the exponential depreciation formula for Tanya's car. 2. Sharon purchased a used car for $24,600. The car depreciates exponentially by 8% per year. How much will the car be worth after 5 years? 3. Brad purchased a 5-year old car for $14,200. When the car was new, it sold for $24,000. Find the depreciation rate to nearest percent. (Use guess and check)
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