the population of master town was 23,000 and 2012. Assume that master town's population increases at a rate of 2% per year. Write an equation to model the population of mastertown (y) based on number of year since 2012(x)
y = 23,000(1.02)^x
what is the value after seven years of a 2014 ford mustang that originally costs $25,000 if it depreciates at a rate of 8% per year? Round your answer to the nearest dollar.
First, we need to find the annual depreciation amount:
Annual depreciation = 8% of $25,000
Annual depreciation = 0.08 x $25,000
Annual depreciation = $2,000
Next, we can use this formula to find the value after seven years:
Value = Original value - Total depreciation
Value = $25,000 - ($2,000 x 7)
Value = $25,000 - $14,000
Value = $11,000
Therefore, the value of the 2014 Ford Mustang after seven years is approximately $11,000.
the local parts shops buys a machine that cost $500,000 its value depreciates exponentially each year by 10%. what is the machines value after 5 years round your answer to the nearest integer
We can use the formula for exponential depreciation:
Value = Initial value x (1 - depreciation rate)^time
Initial value = $500,000
Depreciation rate = 10% = 0.10
Time = 5 years
Plugging in these values, we get:
Value = $500,000 x (1 - 0.10)^5
Value = $500,000 x 0.59
Value = $295,000
Therefore, the machine's value after 5 years is approximately $295,000.
in Miami, the number of highway accidents increased by 20% over a four-year period how many accidents were there in 2013 if there were 5,120 in 2009
We can use the formula for percent increase:
Percent increase = (New value - Old value) / Old value x 100%
We know that the number of accidents increased by 20%, so we can plug in the values we know:
20% = (New value - 5,120) / 5,120 x 100%
Simplifying this equation, we get:
0.2 = (New value - 5,120) / 5,120
Multiplying both sides by 5,120, we get:
New value - 5,120 = 1,024
Adding 5,120 to both sides, we get:
New value = 6,144
Therefore, there were 6,144 accidents in Miami in 2013.
carly bought a new house for $125,000. the value of the house appreciates approximately 3.5% each year. what will the value of the house be after 10 years
We can use the formula for exponential growth:
Value = Initial value x (1 + growth rate)^time
Initial value = $125,000
Growth rate = 3.5% = 0.035
Time = 10 years
Plugging in these values, we get:
Value = $125,000 x (1 + 0.035)^10
Value = $125,000 x 1.419
Value = $177,375
Therefore, the value of the house after 10 years will be approximately $177,375.