A car depreciates according to the model V(t)≈19,000(0.719)t+700.

Question

Based on this model, which statements are true?

There is more than one correct answer. Select all correct answers.

1.The approximate depreciation rate is about 28.1% per year.
2.The approximate depreciation rate is about 71.9% per year.
3.The original value of the car was $19,700.
4.The approximate value of the car will never drop below $700.
5.The approximate value of the car will never drop below $18,000.
6.The original value of the car was $700.

Answer 1

.719 = 1 - .281, or 28.1% loss

Answer 2

the answers to this are:

4: The approximate value of the car will never drop below $700
3: The original value of the car was $19,700
1: The approximate depreciation rate is about 28.1% per year