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Sagot :
First Year - $28,000 with a 7.25% depreciation = 28000 * 7.25% = 2,030 - 28000 = $25,970
Second Year - $25,970 with a 7.25% depreciation = 25970 * 7.25% =1883 - 25970 = $24,087
Third Year - $24,087 with a 7.25% depreciation = 24087 * 7.25% = 1746 - 24087 = $22,341
Fourth Year = $22,341 with a 7.25% depreciation = 1620 - 22341 = $20,721
Fifth Year = $20.721 with a 7.25% depreciation = 1502 - 20721 = $19,219
For this case we have a function of the form:
[tex] y = A * (b) ^ x
[/tex]
Where,
A: initial value
b: decrease rate
x: time in years
Substituting values we have:
[tex] y = 28000 * (0.9275) ^ x
[/tex]
For the year number 5 we have:
[tex] y = 28000 * (0.9275) ^ 5
y = 19219
[/tex]
Answer:
the value of the car 5 years after it is purchased will be:
[tex] y = 19219 [/tex]
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