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Question
The value of a vehicle changes according to the equation V(t)=23,000(0.97)^t , where V(t) = value in dollars and t = time in years.
Use the dropdowns to complete the statements.
In the equation, the number 23,000 represents the
of the vehicle.
What does V(t) = 15,000 mean in the context of this problem?
What does a value of t = 5 mean in the context of this problem?
1 answer
Let's break down the statements:
In the equation, the number 23,000 represents the initial value of the vehicle.
The statement V(t) = 15,000 means that the value of the vehicle is $15,000 at a specific time t (in years).
A value of t = 5 means in the context of this problem that it has been 5 years since the vehicle was purchased, and we can use the equation to determine its current value at that time.
