a rule of thumb used by car dealers is that the trade in value of a car decreases by 20% of its value each year. suppose the initial value of your car is $23,500. write an equation expressing the trade in value of your car as a function of the number of years from now. if your car is really 2.7 years old now, what was its trade in value when it was new?
I don't know I need help
wow
To write the equation expressing the trade-in value of the car as a function of the number of years from now, we can use the given rule of thumb that the trade-in value decreases by 20% each year.
Let's represent the trade-in value of the car as T and the number of years from now as x. The initial value of the car is given as $23,500.
According to the rule of thumb, the trade-in value decreases by 20% each year. This means that the trade-in value after x years will be equal to the initial value multiplied by (1 - 0.20)^x.
Hence, the equation expressing the trade-in value of the car as a function of the number of years from now is:
T(x) = $23,500 * (1 - 0.20)^x
To find the trade-in value of the car when it was new, we need to substitute the given age of the car, which is 2.7 years, into the equation:
T(2.7) = $23,500 * (1 - 0.20)^2.7
Calculating this expression will give us the trade-in value of the car when it was new.