Question

In the year 2006, a person bought a new car for $18000. For each consecutive year after that, the value of the car depreciated by 15%. How much would the car be worth in the year 2009, to the nearest hundred dollars?

Please i need answer now

Answer 1

Explanation:

Use the exponential function

`v(t)=a(b)^t` where a is the initial value of the car, b is the rate of decay, and t is the time in years. For us, a = 18000, b = (1 - .15), so the model for this car is:

`v(t)=18000(.85)^t` We can use this model now to find the value, v(t), of the car after 3 years has gone by (from 2006 to 2009 is 3 years):

`v(t)=18000(.85)^3` and simplifying a bit:

v(t) = 18000(.614125) so

v(t) = 11054.25

Round however you need to.