The table shows the ages and prices of used cars from an online site. The equation y=22-1.2x models the price as a function of age.
Age of car (in years), x 1 3 5 7 9 11 13 Price (in thousands of dollars), y 20.5 18.4 16.1 13.5 11.4 8.8 6
Describe what the slope means in terms of the situation:
8. You deposit $2800 in a savings account that earns 1% annual interest compounded semiannually. Write a function that represents the balance after t years.
9. You deposit $3800 in a savings account that earns 5% annual interest compounded quarterly. Write a function that represents the balance after t years.