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EXPONENTIAL AND LOGARITHMIC FUNCTIONSWriting an equation that models exponential growth or decayIn 2002a car was purchased for $21,500. Each year since, the resale value has decreased by 29%.Let t be the number of years since 2002. Let y be the value of the car, in dollars.Write an exponential function showing the relationship between y and tO=O?

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EXPONENTIAL AND LOGARITHMIC FUNCTIONS
Writing an equation that models exponential growth or decay
In 2002
a car was purchased for $21,500. Each year since, the resale value has decreased by 29%.
Let t be the number of years since 2002. Let y be the value of the car, in dollars.
Write an exponential function showing the relationship between y and t
O=O
?
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EXPONENTIAL AND LOGARITHMIC FUNCTIONS Writing an equation that models exponential growth or decay In 2002 a car was purchased for $21,500. Each year since, the resale value has decreased by 29%. Let t be the number of years since 2002. Let y be the value of the car, in dollars. Write an exponential function showing the relationship between y and t O=O ?

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Step 1

given that cost price of car is $21500

and rate of depreciation is 29% per year

number of years = t

Value of car is y

Step 2

To write an exponential function showing relationship between y and t

Step 3

Original Price = $21,500

if reduced by 29% each year,

af...

$21,500 0.29x $21,500
$21,500x (1 - 0.29)
$21,500(0.71)
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$21,500 0.29x $21,500 $21,500x (1 - 0.29) $21,500(0.71)

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