The value of a brand new car is $36, 000 and the value depreciates 15% every year. Write a function to represent the value of the car after t years, where the monthly rate of change can be found from a constant in the function. Round all coefficients in the function to four decimal places. Also, determine the percentage rate of change per month, to the nearest hundredth of a percent.
The value of a brand new car is $36, 000 and the value depreciates 15% every year. Write a function to represent the value of the car after t years, where the monthly rate of change can be found from a constant in the function. Round all coefficients in the function to four decimal places. Also, determine the percentage rate of change per month, to the nearest hundredth of a percent.
Chapter2: Functions And Their Graphs
Section: Chapter Questions
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