Question
Use the table to answer the question.
x f(x)
0 32,000
1 29,440
2 27,048.80
3 ?
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.(1 point)
The value of the car after three years is $
f(x) = 32,000(0.92)^x
To find the value of the car after three years, substitute x = 3 into the equation:
f(3) = 32,000(0.92)^3
f(3) ≈ 32,000(0.778688)
f(3) ≈ 24,884.42
Therefore, the value of the car to the nearest cent after three years is $24,884.42