Question 548074: Jim purchased a Harley Davidson motorcycle for $17,399 in 2004. The value of the motorcycle depreciates at a rate of 13% each year. Which equation models the value of the motorycle x years after 2004?
A: M(x)=17,399(13)^x
B:M(x)=17,399(1.13)^x
C:M(x)=17,399(0.87x)
D:M(x)=17,399(0.87)^x
Answer by lwsshak3(11628)   (Show Source):
You can put this solution on YOUR website! Jim purchased a Harley Davidson motorcycle for $17,399 in 2004. The value of the motorcycle depreciates at a rate of 13% each year. Which equation models the value of the motorycle x years after 2004?
A: M(x)=17,399(13)^x
B:M(x)=17,399(1.13)^x
C:M(x)=17,399(0.87x)
D:M(x)=17,399(0.87)^x
**
Since depreciation is a straight line relationship, I would use the formula for a straight line:
y=mx+b, m=slope, b=y-intercept
For given problem:
Depreciation per year=.13*17399≈$2262
slope m=2262/year
y-intercept=17399 (at year 1964)
Equation for value of motorcycle x years after 1964:
y=-2262x+17,399
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