(Depreciation). Table 2 gives the market value of a luxury sedan (in dollars) x years after its purchase. (Use 4 decimal places in all answers.) Table 2: Luxury Sedan's Value x Value ($) 1 23,125 2 19,050 3 15,625 4 11,875 5 9,450 6 7,125 A. What exponential equation, V(x) best fits the data, where x is the number of years after purchase and V(x) is value of the vehicle after x years?
(Depreciation). Table 2 gives the market value of a luxury sedan (in dollars) x years after its purchase. (Use 4 decimal places in all answers.)
Table 2: Luxury Sedan's Value
| x | Value ($) |
| 1 | 23,125 |
| 2 | 19,050 |
| 3 | 15,625 |
| 4 | 11,875 |
| 5 | 9,450 |
| 6 | 7,125 |
A. What exponential equation, V(x) best fits the data, where x is the number of years after purchase and V(x) is value of the vehicle after x years?
V(x) =
B. What is r2?
r2 =
C. Use the equation to estimate the purchase price of the vehicle and the value of the vehicle after 10 years. (Round to the nearest cent.)
The purchase price of the vehicle after 10 years will be $
.
D. Use the equation to estimate how old a luxury sedan valued at $12,000 is. (Round to the nearest year.)
The luxury sedan should be about
years old.
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