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You purchase a new car for $23,200. The value of the car decreases by 22% each year. Part a: Write a function that can be used to find the car’s value after t years. Part b: To the nearest dollar, estimate
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You purchase a new car for $23,200. The value of the car decreases by 22% each year.

Part a: Write a function that can be used to find the car’s value after t years.
Part b: To the nearest dollar, estimate the value of the car after 6 years.

User Tal Avissar
by
7.7k points

2 Answers

2 votes

Answer:

$5224.63

Explanation:

User Cornelia
by
8.1k points
3 votes
a. f(x)= 23200*0.78^t
Exponential functions follow the form y=ab^x where a is the initial value, b is the growth or decay rate (1-0.22), and x is time.

b. f(6)= 23200*0.78^6
23200*0.22519...
5224.630...

Final answer: $5224.63
User Rajkumar K
by
8.1k points
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