alearballo25 alearballo25
  • 01-03-2018
  • Mathematics
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Luke purchased a motorcycle for $8,765. It depreciates about 5.3% each year. What is the value of the motorcycle after five years?

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jdoe0001 jdoe0001
  • 01-03-2018
[tex]\bf \qquad \textit{Amount for Exponential Decay}\\\\ A=P(1 - r)^t\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{initial amount}\to &8765\\ r=rate\to 5.3\%\to \frac{5.3}{100}\to &0.053\\ t=\textit{elapsed time}\to &5\\ \end{cases} \\\\\\ A=8765(1-0.053)^5\implies A=8765(0.947)^6[/tex]
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