Question

The function p(t) represents the value of a new car t years after it was manufactured.

Answer 1

Answer:

Option C is correct

The value of the car is 0.94 times the value of the car the previous year.

Step-by-step explanation:

Given the function:

$p(t) = 24,525(0.94)^t$

where,

p(t) represents the value of a new car

t is the number of years.

We have to find  the value 0.94 represent in this situation.

For t =0 years.

Initial value of car p(0) is 24,525

For t = 1 years

$p(1) =24,525 \cdot 0.94$

For t = 2 years

$p(2) =24,525 \cdot (0.94)^2$ and so on...

Since;

$\frac{p(2)}{p(1)} = 0.94$

⇒$p(2) = 0.94 \cdot p(1)$

In general:

$p(t) = 0.94 \cdot p(t-1)$ where, t is the number of years.

⇒the value of the car is 0.94 times the value of the car the previous year.

Answer 2

Answer:

The value of the car is 0.94 times the value of the car the previous year.