Homework Help: Advanced Functions

Posted by Sara on Wednesday, January 12, 2011 at 4:04pm.

he value of a new car depreciates at a rate of 12% per year.

Write an equation to represent the approximate value of a car purchased for $23 000.

Determine the value of the car two years after it is purchased.

Approximately how many years will it take until the car is worth $2300?

Advanced Functions - Henry, Thursday, January 13, 2011 at 8:42pm
1. V= C - rtC,
Eq: V = C(1 - rt).

V = value.
C = cost.
r = rate expresed as a decimal.
t = time in years.

2. V = 23000(1 - 0.12*2),
V = 23000 * 0.76 = 17480.

3. V = 23000(1 - 0.12t) = 2300,
23000(1 - 0.12t) = 2300,
Divide both sides by 23000:
1 - 0.12t = 0.1,
-0.12t = 0.1 - 1 = -0.90,

t = -0.90 / -0.12 = 7.5 yrs.

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