Question

Sydney bought a new car for $32,000.00. If the car depreciates in value by 8% each year, the situation can be modeled by the equation f(x)=32,000(0.92)x
. Complete the table to find the value of the car to the nearest cent after three years.

(2 points)
The value of the car after three years is $

Answer 1

f(3) = 32,000(0.92)^3 = 32,000(0.778688) = 24,918.016 ≈ $24,918.02

The value after three years is $24,918.02.