(a)
To write: a function in terms of x that models the value of the automobiles.
(a)
Answer to Problem 51E
Explanation of Solution
Given information: Classic cars: Sonia Orta invests in vintage automobiles. Three years ago, she purchased a 1953 Corvette roadster for $99,000. Two years ago, she purchased a 1929 Pierce-Arrow Model 125 for $55,000. A year ago she purchased a 1909 Cadillac Model Thirty for $65,000.
Calculation:
Given that the rate of appreciation is the same for all cars,
Then the values of the cars can be found using the
Compound interest,
Since
(b)
the current value of the three automobiles, if the automobiles appreciate at an average annual rate of 15%.
(b)
Answer to Problem 51E
Explanation of Solution
Given information: Classic cars: Sonia Orta invests in vintage automobiles. Three years ago, she purchased a 1953 Corvette roadster for $99,000. Two years ago, she purchased a 1929 Pierce-Arrow Model 125 for $55,000. A year ago she purchased a 1909 Cadillac Model Thirty for $65,000.
Calculation:
Given that the rate of appreciation is the same for all cars,
Then the values of the cars can be found using the
Compound interest,
Substitute
Chapter 4 Solutions
Advanced Mathematical Concepts: Precalculus with Applications, Student Edition
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