Question 22 and 23 please! QUESTION 22 Your company buys a new car for its top s

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Question 22 and 23 please!

QUESTION 22 Your company buys a new car for its top salesperson for a price of $27,844. After losing 18 % of its value immediately off the lot, the car depreciates by 10 % each year. After how many years will the car be worth $7,889 ? QUESTION 23 Find the value of the change factor, b, in the exponential equation that passes through the points (7.6, 4.5) and (16.2, 13.8). Take all calculations toward the answer to three decimal places and report your answer to three decimal places.

Explanation / Answer

22)

after losing 18 % of its value
price = 27844 * ( 1 -0.18)
= 22832.08

let the required time be t
22832.08 * ( 1 - 0.1)^t = 7889
( 1 - 0.1)^t = 7889/22832.08 = 0.3455226
0.9^t = 0.3455226
t ln (0.9) = ln (0.3455226)
t = ln (0.3455226)/ln (0.9)
= 10.0862

aroud 10 years

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