A rental car company purchased a new Toyota Camry for $35,000. The company determined this asset should be depreciated for six years using the straight-line depreciation method. At the end of six years, the car will be worth $30,500.   Write an algebraic model to find the value of the car given the years since purchase. Use “V” for the value of the vehicle and “T” for the years since purchase.

Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.S: Summary
Problem 6S
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A rental car company purchased a new Toyota Camry for $35,000. The company determined this asset should be depreciated for six years using the straight-line depreciation method. At the end of six years, the car will be worth $30,500.

 

Write an algebraic model to find the value of the car given the years since purchase. Use “V” for the value of the vehicle and “T” for the years since purchase.

 

Value of 2018 Toyota Camry Over Time
35500
35000
34500
A 34000
33500
33000
32500
32000
31500
31000
30500
30000
3
4
5
6.
7
Years Since Purchase
Value of Vehicle ($)
2.
Transcribed Image Text:Value of 2018 Toyota Camry Over Time 35500 35000 34500 A 34000 33500 33000 32500 32000 31500 31000 30500 30000 3 4 5 6. 7 Years Since Purchase Value of Vehicle ($) 2.
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