David bought a used Dodge Challenger for $14,000. The value of the car depreciates 11% per year from the time he bought the car.
Write a function that represents the value of David's car, V(t), after t years.
1 answer:
Answer:
V(t) = 14,000(0.89)^t
Step-by-step explanation:
Present value of the Dodge Challenger = $14,000
Present percentage value = 100%
Depreciation value = 11%
Number of years = t
Future value = V(t)
V(t) = Present value of the Dodge Challenger(Present percentage value - Depreciation value)^t
= 14,000(100% - 11%)^t
= 14,000(89%)^t
= 14,000(0.89)^t
V(t) = 14,000(0.89)^t
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