a. Suppose that a stock's price is rising at a rate of 8% per year...
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Algebra
a. Suppose that a stock's price is rising at a rate of 8% per year and that it continues to increase at this rate. If the value of one share of this stock is $15 now, find the value of one share of this stock three years from now. b. The value of a car decreases after it is purchased. Suppose that the value of the car depreciates according to an exponential decay model. Suppose that the value of the car is $10.000 at the end of 7 years and that its value has been decreasing at the rate of 7% per year. Find the value of the car when it was new.
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