Your car's resale value depreciates according to the following table. x is years since purchase and y is the resale value. x y 0 42,000 1 35,280 2 29,635 3 24,894 4 20,911 5 17,565 a) write an equation to model this situation b) what is the decay rate? (how much does the price of the car depreciate each year?) c) In what year will the car be worth 20% of itws initial value? Show your solution mathematically and on a graph
Your car's resale value depreciates according to the following table. x is years since purchase and y is the resale value. x y 0 42,000 1 35,280 2 29,635 3 24,894 4 20,911 5 17,565 a) write an equation to model this situation b) what is the decay rate? (how much does the price of the car depreciate each year?) c) In what year will the car be worth 20% of itws initial value? Show your solution mathematically and on a graph
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter1: Equations And Graphs
Section1.2: Graphs Of Equations In Two Variables; Circles
Problem 111E
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Question
Your car's resale value depreciates according to the following table. x is years since purchase and y is the resale value.
x | y |
0 | 42,000 |
1 | 35,280 |
2 | 29,635 |
3 | 24,894 |
4 | 20,911 |
5 | 17,565 |
a) write an equation to model this situation
b) what is the decay rate? (how much does the price of the car depreciate each year?)
c) In what year will the car be worth 20% of itws initial value? Show your solution mathematically and on a graph.
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Follow-up Question
Is there a way to do part 1 without derivates? We did not take calculus yet. This is from grade 11 math. There should be a way to solve this using exponential decay functions.
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