Question

brad bought A Car for $31,000, but its value is depreciating at a rate of 9% per year. write an exponential function to represent this situation then calculate how much will the car be worth after 3 years? 8 years? 11 years?

Answer 1

y = 31000(.91)^x

3 years

y = 23360.70

8 years

y = 14577.80

11 years

y = 10985.40

Explanation:

Exponential functions

y =ab^x where a is the initial value

b = 1-rate of depreciation

a = 31000

b = 1 -.09 = .91

y = 31000(.91)^x

3 years

y = 31000 (.91)^3

y = 23360.70

8 years

y = 31000 (.91)^8

y = 14577.80

11 years

y = 31000 (.91)^11

y = 10985.40