Answer:
Step-by-step explanation:
If the price is supposed to be dropping with each year, maybe your year/price chart would reflect that. Seems to me that the price rose between 2015 and 2016 and even by 2017 the value was still higher than it was in 2015.
I have no way of knowing how to fix this.
Let's ASSUME that the 2015 price was $71,445 and that the 2016 and 2017 prices are valid.
the decrease between 2015 and 2016 is (71445 - 68640) / 71445 = 0.03926
or 3.926%
the decrease between 2016 and 2017 is (68640 - 65945)/68640 = 0.03926
or 3.926%
so the price each year after new is
p = 71445(1 - 0.03926)ⁿ
or
71445(0.96074)ⁿ
where n is the number of years.
To get the monthly version, we divide the decrease by 12
p = 71445(1 - 0.03926/12)ˣ
or
p = 71445(1 - 0.00327)ˣ
or
p = 71445(0.99673)ˣ
where x is the number of months since new.
This may not be your exact answer, but the same method can be used if you get real numbers.
Step-by-step explanation:
The problem states that you have a linear function so expect your equation to have this form:
y = mx + b
where m is the slope and b is the y-intercept. You are also given two points: P1(5, 6) and P2(14, 60). Use these points to solve for the slope m.
m = (y2 - y1) / (x2 - x1) = (60 - 6)/(14 - 5)
= 54/9 = 6
So our equation now becomes
y = 6m + b
To solve for b, plug in the values of P1:
6 = 6(5) + b ---> b = -24
Therefore, our equation is
y = 6m - 24
The rest of the points are
(8, 24)
(11, 42)
Times what by 20% ? If you can ask me the full question i would love to help!
