Parkash bought a new car at the dealership for $27,000. It is estimated that the value of the car will decrease 7% each year. Which exponential function models the value v of the car after t years?

Question

anonymous · Answer

i got v=27,000(0.93)^t 
is that correct?

mven · Answer

im pretty sure it is V=27000-(0.07*t)

anonymous · Answer

no, the answers they give me are 
A.v=27,000(1.03)^t
B.v=27,000(0.93)^t
C.v=27,000(0.3)^t
D.v=27,000(1.3)^t

imstuck · Answer

i got this, according to the exponential decay formula:$$V=27,000(1-.07)^{t}$$Or simplfying,$$V=27,000(.93)^{t}$$

mven · Answer

I dont know where the decimals are coming from for those sorry

imstuck · Answer

It's B.  Look at my formula above.

imstuck · Answer

Value at the end = Original amount (1 - rate)^t

anonymous · Answer

yea that's what i thought too, thanks you so much!

imstuck · Answer

You're welcome!

imstuck · Answer

TY for the medal!

anonymous · Answer

You're welcome lol (: , i might be posting more questions soon hahahaha

imstuck · Answer

Tag me if you want and I will try to help you.

anonymous · Answer

Sure thing!