SOLUTION: I'm having a hard time trying to figure this problem out. It is a 4 part question: A small business purchased a car for $16,000. Its depreciated value after 4 years is estimated to
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Question 933280: I'm having a hard time trying to figure this problem out. It is a 4 part question: A small business purchased a car for $16,000. Its depreciated value after 4 years is estimated to be $7,000. Assume linear depreciation and graph your model.
a)Write a linear model that will predict the value of the car in terms of the time of depreciation.
b)Interpret what the slope is.
c)What does the x and y intercepts represent.
d)Determine the time when the car's value will be $10,000. Answer by josgarithmetic(39617) (Show Source):
You can put this solution on YOUR website! Your expected linear model has two obvious points. As ordered pair (x,y), they are (0,16000) and (4,7000). Use slope-intercept form for the equation because you already have the y-intercept. Use your two points to compute slope.
The x axis is years since initial, and the y axis is thousands of dollars:
(