Your car's resale value depreciates according to the following table. x is years since purchase and y is the resale value. x y 0 42,000 1 35,280 2 29,635 3 24,894 4 20,911 5 17,565 a) write an equation to model this situation b) what is the decay rate? (how much does the price of the car depreciate each year?) c) In what year will the car be worth 20% of itws initial value? Show your solution mathematically and on a graph
Your car's resale value depreciates according to the following table. x is years since purchase and y is the resale value. x y 0 42,000 1 35,280 2 29,635 3 24,894 4 20,911 5 17,565 a) write an equation to model this situation b) what is the decay rate? (how much does the price of the car depreciate each year?) c) In what year will the car be worth 20% of itws initial value? Show your solution mathematically and on a graph
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Question
Your car's resale value depreciates according to the following table. x is years since purchase and y is the resale value.
x | y |
0 | 42,000 |
1 | 35,280 |
2 | 29,635 |
3 | 24,894 |
4 | 20,911 |
5 | 17,565 |
a) write an equation to model this situation
b) what is the decay rate? (how much does the price of the car depreciate each year?)
c) In what year will the car be worth 20% of itws initial value? Show your solution mathematically and on a graph.
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Is there a way to do part 1 without derivates? We did not take calculus yet. This is from grade 11 math. There should be a way to solve this using exponential decay functions.
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