**NEEd Help??!!

Hank bought a $24,000 car when he graduated from college. His car will lose half of its value in 6.58 years. At what rate does Hank’s car depreciate?

A30%
B20%
C10%
D5%

A new car worth $20,000 loses 20% of its value every year. Is the value of the car represented by a linear or exponential function?

Alinear
Bexponential
Cboth linear and exponential
Dneither linear or exponential

Question

Answered

Verified Answer :

Aliwohaish12 Aliwohaish12 · Answer 1 · 2017-03-20T10:01:04-04:00

12000=24000(1-r)^6.58
Solve for r
R=0.09998*100=9.9998%
Round your answer
R=10%

To solve the second question we use the formula of
A=p(1-r)^ t

Answer Link

parmesanchilliwack parmesanchilliwack · Answer 2 · 2019-01-14T04:07:12-05:00

Answer: 1.C) 10% (approx)

2. B) Exponential

Step-by-step explanation:

1) Since, The initial price of the car, P = $24,000

And, the total time, t = 6.8 years.

Final price of the car after 6.8 years, A = 12,000

Let the rate of depreciation is r %

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Thus, Option C is correct.

2) Here, The price of car initially, P = $20,000

Rate of decay, r = 20%

Thus, the function that shows the price of car,

$f(x)= 20,000 (1-\frac{20}{100})^x$

$f(x)= 20,000 (1-\frac{1}{5})^x$

$f(x)= 20,000 (1.2)^x$

Since, the function is decreasing by the constant percent not the constant rate.

Therefore,By the property of exponential function,

f(x) is an exponential function.

Thus, Option B is correct.