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
To estimate the car's value after 3 years, we need to substitute x=3 into the given function y=30,000(0.85)^x.
So, y = 30,000(0.85)^3
Simplifying the expression:
y = 30,000(0.614125)
y ≈ $18,423.75
Therefore, the estimated car's value after 3 years is approximately $18,423.75.