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Melissa bought a car for $55000 and it is decreasing at a rate of 3.29% yearly. Createan exponential function in y = ab that represents the depreciation of the car yearlywhere (x) represents years. (express factor to the nearest thousandths...3 places afterdecimal)

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Solution

For this case we can do the following:

[tex]y=55000(1-0.032)^t[/tex]

And the solution would be:

[tex]y=55000(0.968)^t[/tex]

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