Question

► 1-79 A new car purchased for $27.000 loses 15% of its value each year.

Answer 1

Are you finding the function?


Step 1:

a=$27,000. (Given)
Annual percent of decrease (r): 15%. (Given)

Step 2:
(Assuming m is the multiplier)

M=1-r

1-15/100

M=.85%

Step 3:
The function representing this

F(t): 27,000•(.85)^t