Given:
Price of car = $26500
Value of car depreciates by $450 each year.
Let's solve for the following:
• (a). Find a formula for V, the value of the car, in terms of t, the number of years since 2008,
Here, the rate of change will be -$450.
To write the formula, apply the slope-intercept form of a line:
y = mx + b
Where:
m is the rate of change
b is the initial value
Thus, we have the equation:
V(t) = -450t + 26500
• (b). Find the value of the car in 2015.
We have the formula for V:
V(t) = -450t + 26500
Where t represents the number of years after 2008.
t = 2015 - 2008 = 7 years
Now, substitute 7 for t in the formula and evaluate.
V(7) = -450(7) + 26500
V(7) = -3150 + 26500
V(7) = 23350
Therefore, the value of the car in 2015 is $23350.
ANSWER:
• (a). V(t) = -450t + 26500
• (b). V(7) = 23350