In 2014 Sam bought a new car for $18,000. He's thinking of selling it in a few years and is curious about how much its worth now. To his surprise he finds his car to now be worth only $12,975. Concerned about how fast his car is loosing value he looked up the value of the car around the date of purchase for each of the last few years: Year Value 2014 18,000 2015 16,325 14,650 2016 2017 12,975 1. To make this information a little easier to work with lets rewrite the information as years after 2014 and value in thousands of dollars: Years after 2014 Value in thousands of dollars 18 1 16.325
In 2014 Sam bought a new car for $18,000. He's thinking of selling it in a few years and is curious about how much its worth now. To his surprise he finds his car to now be worth only $12,975. Concerned about how fast his car is loosing value he looked up the value of the car around the date of purchase for each of the last few years: Year Value 2014 18,000 2015 16,325 14,650 2016 2017 12,975 1. To make this information a little easier to work with lets rewrite the information as years after 2014 and value in thousands of dollars: Years after 2014 Value in thousands of dollars 18 1 16.325
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
(a) Write the information in the table as ordered pairs of the form (x, y) = (years after 2014, value)
(b) Plot all of the data on the coordinate plane below and connect the points with a line.
Transcribed Image Text:Depreciation
In 2014 Sam bought a new car for $18,000. He's thinking of selling it in a few years and is curious about how much
its worth now. To his surprise he finds his car to now be worth only $12,975. Concerned about how fast his car is loosing
value he looked up the value of the car around the date of purchase for each of the last few years:
Year
Value
2014
18,000
16,325
2015
2016
14,650
2017
12,975
1. To make this information a little easier to work with lets rewrite the information as years after 2014 and value in
thousands of dollars:
Years after 2014
Value in thousands of dollars
18
1
16.325
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