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Question

Q15: Suppose a new car is worth $30,000. You can use the function
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 can use the given function and substitute x = 3:

y = 30,000(0.85)^3

Now we need to calculate this value. First, we calculate (0.85)^3:

(0.85)^3 = 0.614125

Now, we substitute this value back into the equation:

y = 30,000 * 0.614125

Now we can multiply:

y = 18,423.75

Therefore, the estimated value of the car after 3 years is $18,423.75.