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Answer: the value of the car in 2019 is $5269
Step-by-step explanation:
It loses 12% of its value every year. This means that the value of the car is decaying exponentially. We would apply the formula for exponential decay which is expressed as
A = P(1 - r)^t
Where
A represents the value of the car after t years.
t represents the number of years.
P represents the initial value of the car.
r represents rate of decay.
From the information given,
P = $21500
r = 12% = 12/100 = 0.12
t = 2019 - 2008 = 11 years
Therefore
A = 21500(1 - 0.12)^11
A = 21500(0.88)^11
A = 5269
For any exponential function, f(x) = abx, the range is the set of real numbers above or below the horizontal asymptote, y = d, but does not include d, the value of the asymptote.
Overall, the steps for algebraically finding the range of a function are:
Write down y=f(x) and then solve the equation for x, giving something of the form x=g(y).
Find the domain of g(y), and this will be the range of f(x).
If you can't seem to solve for x, then try graphing the function to find the range.
The answer is “=“. Both are different representations of the same fraction.
