Question

You bought a new car for $20500 in 2011, and the value of the car depreciares by $700 each year.a) Find a formula for V. the value of the car, in terms of t, the number of years since 2011.V(t) =b) Find the value of the car in 2019.V(8) = $___

Answer 1

The initial price of the car is $20500 and it loses $700 each year.

This is an example of a linear function, where we can write the following function:

$V(t)=20500-700t$

And, as you can notice, since 2011 there are 8 years until 2019, so, to find the value of the car in 2019 we make t=8:

$\begin{gathered} V(8)=20500-700(8) \\ V(8)=20500-5600 \\ V(8)=14900 \end{gathered}$

The value of the car in 2019 is $14900