Question

Reggie purchased a new car. The function large f left(x right)=23,000 left(1.09�� right) can be used to find the value of his car large x years after he purchased it. Which statement about the value of the car is true?

1) The value of the car increases by $23,000 every year.
2) The value of the car decreases by $23,000 every year.
3) The value of the car increases by 9% every year.
4) The value of the car decreases by 9% every year.

Answer 1

The value of Reggie's car increases by 9% each year as per the function representing the car's value over time.

Step-by-step explanation:

The function f(x) = 23,000(1.09)^x represents the value of Reggie's car x years after purchase. The base of the exponent is 1.09 which indicates an annual increase of 9%. Therefore, the car's value is not decreasing by $23,000 each year, nor is it increasing by $23,000 each year. The correct statement about the car's value is that it increases by 9% each year.