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Zoey purchased a new car in 1992 for \$28,000$28,000. The value of the car has been depreciating exponentially at a constant rate. If the value of the car was \$9,600$9,600 in the year 1996, then what would be the predicted value of the car in the year 1998, to the nearest dollar?

Answer :

400$
Explanation:
In 1992, the price is 28000$ and 9600$ in 1996 so in 4 years the value the car lost is 18400$
Dividing 18400 by 4 years we get 4600 depreciation value per year.
Between 1996 and 1998 there is 2 years
So in 1998 the value of the car will be:
9600 (value in 1996) - 2x4600 = 400$
shubhamchouhanvrVT

The predicted value of the car in the year 1998, will be 400$

What is depreciation?

The decrease in the value of any product over a period of time is called depreciation.

In 1992, the price is 28000$ and 9600$ in 1996 so in 4 years the value the car lost is 18400$

Dividing 18400 by 4 years we get 4600 depreciation value per year.

Between 1996 and 1998 there is 2 years

So in 1998, the value of the car will be:

9600   (value in 1996)  -  2  x   4600 = 400$

Therefore the predicted value of the car in the year 1998, will be 400$

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