Question

Suppose you buy a car with a value of $10,750. Each year, the value of your car will depreciate by 5.9%. How much will your car be worth in 10 years?

A. $19,070.76
B. $6,504.50
C. $7,074.39
D. $5,852.01

The population of a town is 17,724 people. Each year, the population increases by 2%. What will the town's population be in 19 years? Round your answer to the nearest whole number.

A. 25,821
B. 566,246
C. 12,074
D. 50, 274

Answer 1

I will get you started.

Car Problem:

10,750(0.059) = 634.25

Year 1:

10,750 - 634.25 = 10,115.75

The price of the car after year one at 0.059 is $10,115.75.

Continue the same pattern for the remaining 9 years.

Population Problem:

17, 724(0.02) = 354.48

For Year 1:

17,724 + 354.48 = 18,078.48

Continue the same pattern for the remaining 18 years. Use your calculator.

Answer 2

Explanation:

Given that you buy a car with a value of 10750 dollas.

The equation representing the value of car at t years would be

`V(t) = 10750(1-0.059)^t\\= 10750(0.911)^t`

Hence

`P(10)=10750(0,941)^(10) \\=5852.01`

Hence option D is right

-------------------------

Population after t years is represented by

P(t)=
`17724(1.02)^t`

Hence population in 19 years would be

`17724(1.02)^(19) \\=25820.52\\=25821`

Option A is right