Question

The equation y = 24000 (0.93)t represents the depreciation of a new car purchased in 2003. Which of the following explanations describes how the car’s value changes year after year?

Answer 1

The equation y = 24000 (0.93)t represents the depreciation of a new car purchased in 2003. The value of the car decreases over time, and this equation shows how the value changes year after year.

Step-by-step explanation:

The equation y = 24000 (0.93)t represents the depreciation of a new car purchased in 2003. The value of the car decreases over time, and this equation shows how the value changes year after year.

The base value of the car is $24,000, and it is multiplied by 0.93 raised to the power of the number of years since the car was purchased (t). As t increases, the value of 0.93 raised to a larger power becomes smaller, causing the value of the car to decrease.

For example, if t = 1 (one year after the car was purchased), the equation becomes y = 24000(0.93) = 24000(0.93) = 22320. So, after one year, the value of the car is 22,320.

Answer 2

The depreciation of a car purchases in 2003 will depreciate 22320