Question

The value of a brand new car is \$25,000$25,000 and the value depreciates 17% every year. Write a function to represent the value of the car after tt years, where the quarterly rate of change can be found from a constant in the function. Round all coefficients in the function to four decimal places. Also, determine the percentage rate of change per quarter, to the nearest hundredth of a percent.

Answer 1

To represent the value of the car after t years, we can use the function V(t) = 25000 * (1 - 0.17/4)^4t, where V(t) is the value of the car after t years. The quarterly rate of change is approximately -3.99%.

Step-by-step explanation:

To represent the value of the car after t years, we can use the function:

V(t) = 25000 * (1 - 0.17/4)^4t

Where V(t) is the value of the car after t years.

To find the quarterly rate of change, we can subtract 1 from the quarterly depreciation rate and multiply it by 100 to convert it to a percentage. The quarterly rate of change is approximately -3.99%.