A specfic model of a car with an original value of $32500 depreciates at a rate of $7000 per year, as represented in the equation below: V(y) = 32500 - 7000 t
and the question is...?
To find the value of the car at a specific time, you need to substitute the value of time (t) into the equation V(y) = 32500 - 7000t.
Let's say you want to find the value of the car after 4 years. Start by substituting t = 4 into the equation:
V(4) = 32500 - 7000 * 4
Now, simplify the equation:
V(4) = 32500 - 28000
V(4) = 4500
Therefore, after 4 years, the value of the car would be $4500.