Daniels print shop purchases a new printer for $35000. Each year it depreciates at a rate by 5%. Use an exponential function to find its approximate value after 8 years

The value of printer will $23,219.72 after 8 years.

Step-by-step explanation:

Given that, Daniels print shop purchases a new printer for $35,000.

Each year it depreciates at a rate 5%.

Exponential function:

P(t)= Price of printer after t years

= Initial price of printer

r= rate of depreciate.

t=Time

Here, = $35,000,r=5%=0.05, t=8 years

      =$23,219.72

The value of printer will $23,219.72 after 8 years.

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