A car was valued at $45,000 in the year 1990. The value depreciated to $13,000 by the year 2005. A) What was the annual rate of change between 1990 and 2005? Round the rate of decrease to 4 decimal places. B) What is the correct answer to part A written in percentage form? %. C) Assume that the car value continues to drop by the same percentage. What will the value be in the year 2008 ? value = $ Round to the nearest 50 dollars.

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
icon
Related questions
Question

Exponential Functions

A car was valued at $45,000 in the year 1990. The value depreciated to $13,000 by the year 2005.
A) What was the annual rate of change between 1990 and 2005?
r =
Round the rate of decrease to 4 decimal places.
B) What is the correct answer to part A written in percentage form?
r =
%.
C) Assume that the car value continues to drop by the same percentage. What will the value be in the year
2008 ?
value = $
Round to the nearest 50 dollars.
Transcribed Image Text:A car was valued at $45,000 in the year 1990. The value depreciated to $13,000 by the year 2005. A) What was the annual rate of change between 1990 and 2005? r = Round the rate of decrease to 4 decimal places. B) What is the correct answer to part A written in percentage form? r = %. C) Assume that the car value continues to drop by the same percentage. What will the value be in the year 2008 ? value = $ Round to the nearest 50 dollars.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Transcendental Expression
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, advanced-math and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Advanced Engineering Mathematics
Advanced Engineering Mathematics
Advanced Math
ISBN:
9780470458365
Author:
Erwin Kreyszig
Publisher:
Wiley, John & Sons, Incorporated
Numerical Methods for Engineers
Numerical Methods for Engineers
Advanced Math
ISBN:
9780073397924
Author:
Steven C. Chapra Dr., Raymond P. Canale
Publisher:
McGraw-Hill Education
Introductory Mathematics for Engineering Applicat…
Introductory Mathematics for Engineering Applicat…
Advanced Math
ISBN:
9781118141809
Author:
Nathan Klingbeil
Publisher:
WILEY
Mathematics For Machine Technology
Mathematics For Machine Technology
Advanced Math
ISBN:
9781337798310
Author:
Peterson, John.
Publisher:
Cengage Learning,
Basic Technical Mathematics
Basic Technical Mathematics
Advanced Math
ISBN:
9780134437705
Author:
Washington
Publisher:
PEARSON
Topology
Topology
Advanced Math
ISBN:
9780134689517
Author:
Munkres, James R.
Publisher:
Pearson,