Answered

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Naomi's car exponentially depreciates at a rate of 8% per
year. If Nina bought the car when it was 4-years old for $16,500, what was
the approximate original price of the car?

Sagot :

MrRoyal

The approximate original price of the car is $23032

How to determine the original price?

The given parameters are:

Rate, r = 8%

Price at 4 years old = 16,500

An exponential function is represented as:

y = a(1 - r)^x

Where a represents the initial value

This gives

y = a(1 - 8%)^x

Evaluate

y = a(0.92)^x

At 4 years old, we have:

16500 = a(0.92)^4

Divide both sides by (0.92)^4

a = 23032

Hence, the approximate original price of the car is $23032

Read more about exponential function at:

https://brainly.com/question/11464095

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