Question

***PLEASE HELP!!!***

A car that is purchased for $24,000 is expected to depreciate at a rate of 7% per year. If the function f(x) = abx models this situation, which function could be used to find the value of the car after 10 years?
A) f(x) = 24,000(0.93)10

B) f(x) = 24,000(0.07)10

C) f(x) = 24,000(1.07)10

D) f(x) = 24,000(10)1.93

Answer 1

First, you need to knw the keywords to the problem. Depreciate means to diminish or become less, therefore, you are taking away something from a number.

You start off with $24,000.
From 100%, you take away 7%

100% - 7% = 93%

Now you put the 93% in decimal form:

93% = 0.93

Add it into your equation:

f(x) = 24,000(0.93)^10

Therefore, your answer is A.