Question

Which best description is represented by the function y = 10,000 (.35)^t

Answer 1

We know that the interest formula is given as:

$y=P(1+r)^t$

in this case we have that P is 10000, and; in order to have a 0.35 inside the parenthesis we need that r=-0.65. This means that the value of the car decreases by 65%.