Angelica bought a new car at a cost of 22,000. The car's value decreases exponentially at the same rate each year and one year later the car's value was 18,480. what is the common ratio?

Question

Mathematics

Manuel Graves

12 May, 06:31

Angelica bought a new car at a cost of 22,000. The car's value decreases exponentially at the same rate each year and one year later the car's value was 18,480. what is the common ratio?

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Answers (1)

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Gilbert · Answer 1

We are given cost of new car purchased = $22,000.

Car value is decreasing exponentially.

Car value after 1 year = 18,480.

In order to find the common ratio, we need to divide first year value of the car by initial purchased value.

Therefore, common ratio = 18,480/22,000.

Now, we need to convert 18,480/22,000 into simplest fraction.

Dividing top and bottom by 880 we get,

= 21/25.

Therefore, common ratio of decreased car value is 21/25.