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Sagot :
The value of a car after 10 years be $20898.27 if the car rental company assumes each car in their fleet depreciates by 6% per year option (a) $20898.27 is correct.
What is an exponential function?
It is defined as the function that rapidly increases and the value of the exponential function is always a positive. It denotes with exponent [tex]\rm y = a^x[/tex]
where a is a constant and a>1
We can solve this problem by exponential function:
The word depreciate means the price is decreasing.
We can find the value be when the car is 10 years old:
p = 38800(1 - 0.06)¹⁰
p = 38800(0.94)¹⁰
p = 20898.266 ≈ $20898.27
Thus, the value of a car after 10 years be $20898.27 if the car rental company assumes each car in their fleet depreciates by 6% per year option (a) $20898.27 is correct.
Learn more about the exponential function here:
brainly.com/question/11487261
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