[tex]\qquad \textit{Amount for Exponential Decay} \\\\ A=P(1 - r)^t\qquad \begin{cases} A=\textit{current amount}\\ P=\textit{initial amount}\dotfill &28000\\ r=rate\to 9\%\to \frac{9}{100}\dotfill &0.09\\ t=\textit{elapsed time}\dotfill &1 \end{cases} \\\\\\ A=28000(1-0.09)^1\implies A=28000(0.91)\implies A=25480[/tex]
Answer:
$25,480
Step-by-step explanation:
In one year, the car depreciates by 9% of its original value:
0.09 × $28,000 = $2520 . . . . amount of depreciation
The value at the end of one year is ...
$28,000 -2,520 = $25,480
The value one year after purchase is $25,480.
