SOLUTION: Function that gives a car's value, V(t), t years after it's sold. A car sells for $5000 and loses 1/10 of its value each year.

Algebra ->  Functions -> SOLUTION: Function that gives a car's value, V(t), t years after it's sold. A car sells for $5000 and loses 1/10 of its value each year.       Log On


   

Question 1157525: Function that gives a car's value, V(t), t years after it's sold. A car sells for $5000 and loses 1/10 of its value each year.
Answer by Amily_2190(27) About Me  (Show Source):
You can put this solution on YOUR website!
Explanation:
-The car loses 1/10 of its value each year, so this means that only 9/10 of the value remains.
-Every year, you have to find 9/10 of the value of the car in the previous year to determine the value of the car of the current year.
For example,
V(0)= 5000
V(1)= 5000(9/10)
V(2)=(5000(9/10))*(9/10)
V(3)=(5000*9/10)(9/10)(9/10)
These equations translate to V(t)=5000(9/10)^t because
V(2)=5000(9/10)*(9/10)=5000(9/10)^2
V(3)=5000(9/10)(9/10)(9/10)=5000(9/10)^3

Answer:
V(t)= 5000(9/10)^t