Question

Use the following information to graph the value of a car over time:The average price of a new car in the United States is approximately $30,750.The value decreases each year at an exponential rate and approaches an asymptote whoseequation is y = 0.The average car loses nearly half its original value after 5 years.For what values of x is the graph positive? What is the domain of this function? Identify theminimum and maximum of this graph.

Answer 1

Explanation:

Exponential function:

In the following format:

`y(x)=(y_o)^(rx)`

r is the rate of change.

The domain is: x >= 0

The maximum is y(0).

The minimum is close to 0.

In this question:

The average value is $30,750. So the function can be modeled as:

`y(x)=(30750)^(rx)`

The graph is positive for all values of x.

The domain of the function is x >= 0

The maximum is y = $30,750

The minimum is close to 0.