Question

Suppose that the dollar value v(t) of a certain car that is t years old is given by the following exponential function. v(t) = 21, 300 * (1.24) ^ t

Answer 1

Given:-

`v(t)=21300(1.24)^t`

To find the initial value, does the fucnction represent growth or decay.

Here the value of a is 21300.

So we get,

`1+r=1.24`

So the value of r is,

`r=0.24`

So now we get percentage is,

`24\%`

Rate of change is 24%.

So the required solution is,

`initial\text{ value =21300}`

So the percentage range is,

`24\%`