Answered

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a car bought for $13,000 depreciates at 12% per annum. what is the rate of decay of its value?

Sagot :

Solution

For this case we can use the following model for a decay case given by:

y= a(b)^t

Where a= 13000

And b = 1-0.12 = 0.88

Where:

a = The initial value for this case is 13000 since is the starting price for the car

b = Represent the exponential decay factor and is defined as 1- fraction of decay. For this case fraction of decay = 12/100 = 0.12 and fo rthis reason b = 1-0.12= 0.88

So then the answer for this case is

b= 0.88

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