Answer:
The value of printer will $23,219.72 after 8 years.
Step-by-step explanation:
Given that, Daniels print shop purchases a new printer for $35,000.
Each year it depreciates at a rate 5%.
Exponential function:
[tex]P(t)=P_0(1-r)^t[/tex]
P(t)= Price of printer after t years
[tex]P_0[/tex]= Initial price of printer
r= rate of depreciate.
t=Time
Here, [tex]P_0[/tex] = $35,000,r=5%=0.05, t=8 years
[tex]P(8)= 35000(1-0.05)^8[/tex]
=$23,219.72
The value of printer will $23,219.72 after 8 years.
