In the year 2000, Anna bought a new car for $26,000. In 2005, she was told that the value of her car was $15,000 due to depreciation. She is told that the value of her car depreciates linearly.Find a function V (t) which gives the value of the car t years after the year 2000.In 2008, Anna is told that she will be given $7,000 for her car if she decides to trade it in for a new car. Use the function from part (a) above to determine the value of her car in 2008.Is the $7,000 value fair based on what she was told about linear depreciation? Explain your answer.

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Answered: In the year 2000, Anna bought a new car…

College Algebra

7th Edition

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter2: Functions

Section: Chapter Questions

Problem 7T

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In the year 2000, Anna bought a new car for $26,000. In 2005, she was told that the value of her car was $15,000 due to depreciation. She is told that the value of her car depreciates linearly.

Find a function V (t) which gives the value of the car t years after the year 2000.
In 2008, Anna is told that she will be given $7,000 for her car if she decides to trade it in for a new car. Use the function from part (a) above to determine the value of her car in 2008.
Is the $7,000 value fair based on what she was told about linear depreciation? Explain your answer.

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