Question

The car was purchased for $18,000 the card decreases 20% each year write a function that describes the value of the car after X years

What is the initial value?

Answer 1

Answer: f(x) = 18000(0.80^x)

Explanation:
The initial value is 18,000 because that is the value of the car when it was purchased. The equation can be derived by plugging these values into the formula for exponential growth: f(x) = a(1 + r)^x. This gives us f(x) = 18000(1 - 0.20)^x or f(x) = 18000(0.80^x).