The estimated resale value R (in dollars) of a company car after t years is given by R(t)=23,806 (0.789)*. What is the rate of depreciation (in dollars per year) after 4 years? Round to the nearest cent. The car is depreciating at $ per year.

The estimated resale value R (in dollars) of a company car after t years is given by R(t)=23,806 (0.789)*. What is the rate of depreciation (in dollars per year) after 4 years? Round to the nearest cent. The car is depreciating at $ per year.

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter6: Exponential And Logarithmic Functions

Section: Chapter Questions

Problem 4PT: An investment account was opened with aninitial deposit of 9,600 and earns 7.4 interest,compounded...

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Question

The estimated resale value R (in dollars) of a company car after t years is given by
R(t) = 23,806 (0.789)*.
What is the rate of depreciation (in dollars per year) after 4 years? Round to the nearest cent.
The car is depreciating at $
per year.
NOTE: The rate of depreciation is |R' (t)]. Your answer should be positive.

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