78. Depreciation The value of a 2003 Toyota Corolla is given by the function 14000(0.93)* v(t) where t is the number of years since its purchase and v(t) is its value in dollars. (Source: Kelley Blue Book) a. What was its initial purchase price? b. What percentage of its value does the Toyota Corolla lose each year? c. How long will it take for the value of the Toyota Corolla to reach $12,000?
78. Depreciation The value of a 2003 Toyota Corolla is given by the function 14000(0.93)* v(t) where t is the number of years since its purchase and v(t) is its value in dollars. (Source: Kelley Blue Book) a. What was its initial purchase price? b. What percentage of its value does the Toyota Corolla lose each year? c. How long will it take for the value of the Toyota Corolla to reach $12,000?
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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![### Depreciation of a 2003 Toyota Corolla
The value of a 2003 Toyota Corolla is represented by the function:
\[ v(t) = 14000(0.93)^t \]
where \( t \) is the number of years since its purchase and \( v(t) \) is its value in dollars.
(Source: Kelley Blue Book)
#### Questions:
a. What was its initial purchase price?
b. What percentage of its value does the Toyota Corolla lose each year?
c. How long will it take for the value of the Toyota Corolla to reach $12,000?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa32b080e-315a-4cdc-b676-262d2151a2fd%2F2bf386a1-0701-4ac6-8c29-478747ae7113%2Fa3gwsrl_processed.png&w=3840&q=75)
Transcribed Image Text:### Depreciation of a 2003 Toyota Corolla
The value of a 2003 Toyota Corolla is represented by the function:
\[ v(t) = 14000(0.93)^t \]
where \( t \) is the number of years since its purchase and \( v(t) \) is its value in dollars.
(Source: Kelley Blue Book)
#### Questions:
a. What was its initial purchase price?
b. What percentage of its value does the Toyota Corolla lose each year?
c. How long will it take for the value of the Toyota Corolla to reach $12,000?
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