To determine whether the decreasing value of the car can be modeled by a linear decay function or an exponential decay function, we need to analyze the changes in the value of the car each year.
Here are the values given in the table:
- Year 0: $54,000
- Year 1: $51,840
- Year 2: $49,766
- Year 3: $47,776
- Year 4: $45,865
Let's check the percent change from year to year:
-
Year 0 to Year 1:
\[
\frac{51,840 - 54,000}{54,000} \approx -0.04 \quad \text{(decrease of 4%)}
\]
-
Year 1 to Year 2:
\[
\frac{49,766 - 51,840}{51,840} \approx -0.04 \quad \text{(decrease of about 4%)}
\]
-
Year 2 to Year 3:
\[
\frac{47,776 - 49,766}{49,766} \approx -0.04 \quad \text{(decrease of about 4%)}
\]
-
Year 3 to Year 4:
\[
\frac{45,865 - 47,776}{47,776} \approx -0.04 \quad \text{(decrease of about 4%)}
\]
Each year, the value of the car decreases consistently by approximately 4%. This indicates a constant percentage rate of decline, which is characteristic of exponential decay.
Therefore, the correct response is:
exponential decay function; the value decreases by 4% per year, which is a constant percent rate of change.