(NEED ASAP) Algebra 1 Exponential Decay Assignment

Question

A car depreciates at a rate of 13% per year. The car was originally purchased for $28,000.

1. What is the decay factor for the value of the car?
2. Write a function for this situation with the value of the car as a function of the age of the car in years.
3. How much will the car be worth in 6 years?
4. Rewrite the function for question 2 so it is an equivalent function with a negative exponent.

Answer 1

1. The decay factor is the percent as a decimal. 13% = 13/100 = 0.13.

2. y = P(1 - b)^x

y = 28,000(1 - 0.13)^x

3. y = 28,000(0.87)⁶ = your answer

4. A negative exponent means we flip the base upside down, so.

y = 28,000(100/87)^-x