SOLUTION: 92. Decreasing price. World Auto uses the formula P= -3000n + 17,000 to determine the wholesale price for a used Ford Focus, where P is the price in dollars and n is the age of th

Algebra ->  Linear-equations -> SOLUTION: 92. Decreasing price. World Auto uses the formula P= -3000n + 17,000 to determine the wholesale price for a used Ford Focus, where P is the price in dollars and n is the age of th      Log On


   

Question 173676This question is from textbook Elementary and intermediate
: 92. Decreasing price. World Auto uses the formula
P= -3000n + 17,000 to determine the wholesale price for a used Ford Focus, where P is the price in dollars and n is the age of the car in years.
a) Find the price for a Focus that is 1, 2, or 3 years old.
b) Find the slope and P-intercept for the line P= -3000n + 17,000.
c) Interpret the slope and P-intercept.
 This question is from textbook Elementary and intermediate

Answer by Mathtut(3670) About Me  (Show Source):
You can put this solution on YOUR website!
a)...P(1)=-3000(1)+17000=14000
.....P(2)=-3000(2)+17000=11000
.....P(3)=-3000(3)+17000=8000
:
b)this is written in y=mx+b format where P=y and x=n remember m is the slope and b is the y intercept or in our case the P intercept
:
so the slope is -3000 and the P-intercept is 17000
:
c)the slope is the rate of change( every year that goes by the whole sale price loses 3000 dollars in value) and the P intercept is the starting price of the vehicle