Question

If the value of a tv is $1500, and it's value decreases by 14% each year, how do I write a function that represents the value y of the tv after t years

Answer 1

value of the tv = $1500

Decrease rate per year = 14%

14% of $1500 = (14 x 1500)/100

14% of $1500 = 21000/100

14% of $1500 = 210

In first year depreciation would be y - 210(t) = 1500 -210(1) = 1290

The function to calculate y after t years would be : y - 210(t)

The function would be y - 210(t)

Explanation:

Answer 2

Explanation:

If the value of the TV decreases by 14% each year, then the rate is exponential.

We would apply the formula for exponential growth which is expressed as

A = P(1 + r/n)^ nt

Where

A represents the price of the TV after t years.

n represents the periodic rate at which the decrease is calculated.

t represents the number of years.

P represents the initial price of the TV.

r represents rate of decrease in value of the TV.

From the information given,

P = $1500

r = 14% = 14/100 = 0.14

n = 1

A = y

Therefore, the function would be

y = 1500(1 + 0.14/1)^ 1 × t

y = 1500(1.14)^t