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9. A new car is purchased for $22,627. Each year, the car decreases in value by 3.1%. a. Write an exponential function for the value of the car using time (t) in years as the input quantity. b. How much is the car worth in 5 years? Use your equation from part a to solve. Round to two decimal places.

9. A new car is purchased for $22,627. Each year, the car decreases in value by 3.1%. a. Write an exponential function for the value of the car using time (t) in years as the input quantity. b. How much is the car worth in 5 years? Use your equation from part a to solve. Round to two decimal places.

A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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9. A new car is purchased for $22,627. Each year, the car decreases in value by 3.1%. a. Write an exponential function for the value of the car using time (t) in years as the input quantity. b. How much is the car worth in 5 years? Use your equation from part a to solve. Round to two decimal places.
Transcribed Image Text:9. A new car is purchased for $22,627. Each year, the car decreases in value by 3.1%. a. Write an exponential function for the value of the car using time (t) in years as the input quantity. b. How much is the car worth in 5 years? Use your equation from part a to solve. Round to two decimal places.
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