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krok68 [10]
3 years ago
5

A car with an initial cost of $33,000 is decreasing in value at a rate of 7% each year. Write the exponential decay function to

determine when the value of the car will be $15,000 to the nearest year
Mathematics
1 answer:
Brut [27]3 years ago
7 0

Answer:

n= 11.65 years

Step-by-step explanation:

Giving the following information:

Present Value (PV)= $33,000

Future Value (FV)= $15,000

Decrease rate (d)= 7%

<u>To calculate the number of years it will take to reach $15,000; we need to use the following formula:</u>

<u></u>

n= ln(FV/PV) / ln(1+d)  

n= ln(15,000/33,000) / ln(1.07)

n= 11.65 years

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y=16x+1

Step-by-step explanation:

You want to find the equation for a line that passes through the two points:

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y = mx+b

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First, let's find what m is, the slope of the line...

The slope of a line is a measure of how fast the line "goes up" or "goes down". A large slope means the line goes up or down really fast (a very steep line). Small slopes means the line isn't very steep. A slope of zero means the line has no steepness at all; it is perfectly horizontal.

For lines like these, the slope is always defined as "the change in y over the change in x" or, in equation form:

So what we need now are the two points you gave that the line passes through. Let's call the first point you gave, (1,17), point #1, so the x and y numbers given will be called x1 and y1. Or, x1=1 and y1=17.

Also, let's call the second point you gave, (2,33), point #2, so the x and y numbers here will be called x2 and y2. Or, x2=2 and y2=33.

Now, just plug the numbers into the formula for m above, like this:

m=  

33 - 17/  2 - 1

or...

m=  16/ 1

or...

m=16

So, we have the first piece to finding the equation of this line, and we can fill it into y=mx+b like this:

y=16x+b

Now, what about b, the y-intercept?

To find b, think about what your (x,y) points mean:

(1,17). When x of the line is 1, y of the line must be 17.

(2,33). When x of the line is 2, y of the line must be 33.

Because you said the line passes through each one of these two points, right?

Now, look at our line's equation so far: y=16x+b. b is what we want, the 16 is already set and x and y are just two "free variables" sitting there. We can plug anything we want in for x and y here, but we want the equation for the line that specfically passes through the two points (1,17) and (2,33).

So, why not plug in for x and y from one of our (x,y) points that we know the line passes through? This will allow us to solve for b for the particular line that passes through the two points you gave!.

You can use either (x,y) point you want..the answer will be the same:

(1,17). y=mx+b or 17=16 × 1+b, or solving for b: b=17-(16)(1). b=1.

(2,33). y=mx+b or 33=16 × 2+b, or solving for b: b=33-(16)(2). b=1.

See! In both cases we got the same value for b. And this completes our problem.

The equation of the line that passes through the points

(1,17) and (2,33)  is   y=16x+1

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