SOLUTION: I am given that a new car costs 30,000 and loses 14% of value each year and a old two-year car costs 300$ in repair and increases by 16% each subsequent year. Find the total cost o

Question 102396This question is from textbook Calulus: Single Variable
: I am given that a new car costs 30,000 and loses 14% of value each year and a old two-year car costs 300$ in repair and increases by 16% each subsequent year. Find the total cost of owning a new car for three year and find the total cost of owing a two-year old car for three years. This question is from textbook Calulus: Single Variable

Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
am given that a new car costs 30,000 and loses 14% of value each year and a old two-year car costs 300$ in repair and increases by 16% each subsequent year. Find the total cost of owning a new car for three year and find the total cost of owing a two-year old car for three years.
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New Car Formula:
C(t) = 30,000(1-0.14)^t
C(3) = 30000(0.86)^3 =$19081.68
----------------
Old Car Formula:
Let value of the old car now be "x"
C(t) = x(1.16t)-300t
C(3) = 3.48x -900
====================
Cheers,
Stan H.
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