Kelly bought a new car for $20,000. the car depreciates at a rate of 10% per year. what is the decay factor for the value of the car? kelly bought a new car for $20,000. the car depreciates at a rate of 10% per year. what is the decay factor for the value of the car? use your equation to determine the value of the car six years after kelly purchased it.

Decay factor is 0.9,

The value of the car after 6 years is $10,628.82.

Step-by-step explanation:

Given,

The original value of the car, P = $20,000,

Also, the annual decreasing rate, r = 10 %,

So, the value of the car after t years,

Now, a function is called exponential function,

Where, a and b are any constant,

There are two type of exponential function,

Decay : If 0 < b < 1, where b is called decay factor,

Growth : If b > 1, where b is called growth factor,

By comparing,

Decay factor of the function (1) is 0.9,

If t = 6,

Then the value of the car after 6 years would be,

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step-by-step explanation: