Question

A car was purchased for $21,000. Each year since, the resale value has decreased by 27%.Let / be the number of years since the purchase. Let y be the resale value of the car, in dollars.Write an exponential function showing the relationship between y and t

Answer 1

Step-by-step explanation

Because the car's worth reduces by 27%, if x is the car's value in year 1, the car's value in year 2 will be 0.73x.

The value of the car in year 1 was $21,000

The value of the car in year 2 will be 21,000(0.73)

The same reasoning need to be applied with year three to obtain the following expression:

`y=21000\left(0.73\right)^t`

This is an exponential function where t represents the number of years.