Math Problem Statement
A car was valued at $42,000 in the year 1990. The value depreciated to $13,000 by the year 2005.
A) What was the annual rate of change between 1990 and 2005?
Solution
Ask a new question for Free
By Image
Drop file here or Click Here to upload
Math Problem Analysis
Mathematical Concepts
Depreciation
Exponential Decay
Percentage Change
Formulas
Exponential Decay Formula: V(t) = V0 * (1 - r)^t
Theorems
Exponential Growth and Decay Theorem
Suitable Grade Level
Grades 9-12
Related Recommendation
Calculate Annual Depreciation and Future Car Value Based on Exponential Decay
Calculate Car Depreciation: Exponential Decay and Annual Rate of Change
Calculate Annual Depreciation Rate of a Car Using Exponential Decay
Annual Depreciation Rate of a Car Over 11 Years Using Exponential Decay
Car Value Depreciation: Calculate Annual Rate of Change and Future Value