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 2021-01-25 Answered

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.)

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Expert Answer

Tasneem Almond
Answered 2021-01-26 Author has 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

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