Question:

# A new car is purchased for $47, 000 and over time its value

Last updated: 7/31/2022

A new car is purchased for $47, 000 and over time its value depreciates by one half every 3.5 years. Write a function showing the value of the car after t years, where the annual decay rate can be found from a constant in the function. Round all coefficients in the function to four decimal places. Also, determine the percentage rate of decay per year, to the nearest hundredth of a percent. Function: f(t)=? Growth ___% increase per year