Question

A new refrigerator costs `\$1500`. The value of the refrigerator will decrease `40\%` each year.

Use `x` to represent the time in years.

Use `y` to represent the value of the refrigerator.

Here is your equation from the previous screen: `y=1500(0.6)^{x}`.

Determine the value of the refrigerator after `5` years.

Answer 1

Using the equation `y = 1500(0.6)^x`, we can find the value of the refrigerator after 5 years by plugging in x = 5:

y = 1500(0.6)^5

y ≈ 384.16

Therefore, the value of the refrigerator after 5 years is approximately $384.16.