Jeremy purchases a boat for the price of $31 950. The boat depreciates in value by 19% per year. The function that models its value over time is V(x) = 3195O(0.81)*, where V is the value of the boat after x years. a) What is the value of the boat after 4 years? b) When will the boat be worth less than $10 000? c) Another boat made by a different company that costs $31 950, depreciates at a faster rate. If its value after 5 years is $8500, what is the rate of depreciation?

College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter2: Functions And Graphs
Section2.1: Functions And Function Notation
Problem 9SC
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Jeremy purchases a boat for the price of $31 950. The boat depreciates in value by
19% per year. The function that models its value over time is
V(x) = 31950(0.81)*, where V is the value of the boat after x years.
a) What is the value of the boat after 4 years?
b) When will the boat be worth less than $10 000?
c) Another boat made by a different company that costs $31 950, depreciates at a
faster rate. If its value after 5 years is $8500, what is the rate of depreciation?
Transcribed Image Text:Jeremy purchases a boat for the price of $31 950. The boat depreciates in value by 19% per year. The function that models its value over time is V(x) = 31950(0.81)*, where V is the value of the boat after x years. a) What is the value of the boat after 4 years? b) When will the boat be worth less than $10 000? c) Another boat made by a different company that costs $31 950, depreciates at a faster rate. If its value after 5 years is $8500, what is the rate of depreciation?
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