You just bought a new car for $22,000.Assume that the value of your new car depreciates at a constant 12 % per year

jernplate8

jernplate8

Answered question

2021-01-25

You just bought a new car for $22,000. Assume that the value of your new car depreciates at a constant 12 % per year.

1) The decay rate is square

2) The decay factor is square

3) The equation of the function that represents the value, V(t), of the car in dollars t years from now is V =  (Write an expression that completes the function's equation.)

Answer & Explanation

Tasneem Almond

Tasneem Almond

Skilled2021-01-26Added 91 answers

Step 1 Given that the value of the car depreciates at a constant 12 % per year.

That means the decay rate=r=12 %=0.12 The decay factor isb=1  r=1  0.12=0.88

Step 2 Given that the initial value is $22000 That means a=22000

And the decay factor=b=0.88 So the equation of the function is: V(t)=a(b)t
V(t)=22000(0.88)t

Answer(1): 0.12

Answer(2): 0.88

Answer(3): 22000(0.88)t

Do you have a similar question?

Recalculate according to your conditions!

Ask your question.
Get an expert answer.

Let our experts help you. Answer in as fast as 15 minutes.

Didn't find what you were looking for?