1. what factors might contribute to a car losing its...
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Lesson 56 Historical and Exponential Depreciation.notebook
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January 28, 2015
Bellwork 1-28-15
1. What factors might contribute to a car losing its value?
I once bought an old car back after I sold it because I missed it so much and I had forgotten that it never ran... I just wanted it back. I could only remember what was good about it.Connie Chung, Television News Commentator
Lesson 56 Historical and Exponential Depreciation.notebook
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EXAMPLE 5A car exponentially depreciates at a rate of 6% per year. Beth purchased a 5‐year‐old car for $18,000. What was the original price of the car when it was new?
Lesson 56 Historical and Exponential Depreciation.notebook
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A car depreciates exponentially at a rate of 5% per year. If the car is worth $30,000 after 9 months, what was the original price of the car?
CHECK YOUR UNDERSTANDING
Lesson 56 Historical and Exponential Depreciation.notebook
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EXAMPLE 6Leah and Josh bought a used car valued at $20,000. When this car was new, it sold for $24,000. If the car depreciates exponentially at a rate of 8% per year, approximately how old is the car?
Lesson 56 Historical and Exponential Depreciation.notebook
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Homework: Page 257, #'s 11-12, 14-18