Question

Marcos purchased a sail boat for $56,900. He anticipates each year the boat will decrease in value by 8.1% from the previous year. Write an exponential function that models the value in dollars of the boat x years after Marcus's purchase.

Answer 1

Answer: $56,900\left( 0.919\right)^x$

Step-by-step explanation:

Given

Marcos purchased a sailboat for $\ 56,900$

Each year the boat will decrease in value by $8.1\%$

After 1 year it is

$\Rightarrow 56,900-56,900\times 0.081\\\Rightarrow 56,900\left( 1-0.081\right)$

after another year it becomes

$\Rightarrow 56,900\left( 1-0.081\right)-56,900\left( 1-0.081\right)\times 0.081\\\Rightarrow 56,900\left( 1-0.081\right)\cdot \left( 1-0.081\right)\\\Rightarrow 56,900\left( 1-0.081\right)^2$

After $x$ years it is

$\Rightarrow 56,900\left( 1-0.081\right)^x$

$\Rightarrow 56,900\left( 0.919\right)^x$