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A car that is purchased got 24000 is expected to depreciate at a rate of 7% per year. If the function f(x)=ab^x models this situation, which function could be used to find the value of the car after 10 years?

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facundobuzzetti

Answer:

FV= 24,000*(1.07^-10)

Step-by-step explanation:

Giving the following information:

Present Value (PV)= $24,000

Decrease rate (d)= 7%

Number of periods (n)= 10 years

To calculate the value of the car after 10 years, we need to use the following formula:

FV= PV*(1+d)^-n

FV= 24,000*(1.07^-10)

FV= $12,200.38

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