Question
you paid $32,500 for a new car, but it depreciates at an 8% rate every year. What would be the function equation ( f(x) )? and how much would it increase for the next 3 years
Answers
GPT 3.5
The function equation for the depreciation of the car can be written as:
f(x) = 32500 * (1 - 0.08)^x
where x is the number of years since the car was purchased.
To find out how much the car would be worth after 3 years, we can plug in x = 3 into the equation:
f(3) = 32500 * (1 - 0.08)^3
f(3) = 32500 * (0.92)^3
f(3) = 32500 * 0.778688
f(3) = 25336.44
Therefore, after 3 years, the car would be worth approximately $25,336.44.
f(x) = 32500 * (1 - 0.08)^x
where x is the number of years since the car was purchased.
To find out how much the car would be worth after 3 years, we can plug in x = 3 into the equation:
f(3) = 32500 * (1 - 0.08)^3
f(3) = 32500 * (0.92)^3
f(3) = 32500 * 0.778688
f(3) = 25336.44
Therefore, after 3 years, the car would be worth approximately $25,336.44.