Question

Question 1 (2 points)

Jeff is purchasing a car for $29,175 that will depreciate in value 7.5% each year.
Write a function to model the value P of the carafter t years,
If he decides to sell the car after 6 years, what will be the value of his car? Express your answer as a decimal rounded to the nearest hundredth.

Answer 1

p= 18,275

Explanation:

The function would be p=29,175(-0.925)^t. You would then substitute t for 6 and solve from there to get p=18,275.

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