Question

(ii) The value V of a Porsche 718 Cayman that is tyears old can be modeled by

Answer 1

Answer:

Part A: What would be worth the car's worth in 2 years?

V(2) = $ 391,114.50

Part B. In how many years will the car be worth $325,000?​

t = 7.2 years (rounding to the next tenth) or approximately 7 years, 2 months and 12 days

Step-by-step explanation:

Part A: What would be worth the car's worth in 2 years?

If V(t) = 420,000(0.965) ^t, therefore:

V(2) = 420,000(0.965)²

V(2) = 420,000 * 0.931225

V(2) = $ 391,114.50

Part B. In how many years will the car be worth $325,000?​

If V(t) = 420,000(0.965) ^t, therefore:

325,000 = 420,000(0.965) ^t

325,000/420,000 = (0.965) ^t

0.7738 = 0.965^t

t = log 0.965(0.7738)

t = log 0.7738/log 0.965

t = 7.2 years (rounding to the next tenth) or approximately 7 years, 2 months and 12 days

0.2 years = 0.2 * 12 = 2.4 months