Suppose a new car is worth $30,000. You can use the function

Question

y=30,000(0.85)^x to estimate the car's value after x years.
Estimate the car's value after 3 years

Answer 1

To estimate the car's value after 3 years, we need to substitute x=3 into the given function y=30,000(0.85)^x.

So, y = 30,000(0.85)^3

Simplifying the expression:

y = 30,000(0.614125)

y ≈ $18,423.75

Therefore, the estimated car's value after 3 years is approximately $18,423.75.