Concept explainers
A van is purchased new for $29,200.
a. Write a linear function of the form
b. Suppose that the vehicle is depreciated so that it holds only 80% of its value from the previous year. Write an exponential function of the form
c. To the nearest dollar, determine the value of the vehicle after 5 yr and after 10 yr using the linear model.
d. To the nearest dollar, determine the value of the vehicle after 5 yr and after 10 yr using the exponential model.
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