 # 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 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 (Write an expression that completes the function's equation.)

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

That means the decay The decay factor is

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: $V\left(t\right)=a\left(b{\right)}^{t}$
$V\left(t\right)=22000\left(0.88{\right)}^{t}$

Answer(1): $0.12$

Answer(2): $0.88$

Answer(3): $22000\left(0.88{\right)}^{t}$