a car with an initial value of $23,00 is decreasing in value at a rate of 8% each year. Write a function, f(x), that expresses the value of the car in x years

Step-by-step explanation:

We would apply the formula for exponential decay which is expressed as

A = P(1 - r/n)^ nt

Where

A represents the value after t years.

n represents the period for which the decrease in value is calculated

t represents the number of years.

P represents the value population.

r represents rate of decrease.

From the information given,

P = 23000

r = 8% = 8/100 = 0.08

n = 1

Therefore, the exponential decay function described in this situation is

A = 23000(1 - 0.08/n)1)^ 1 × t

A = 23000(0.92)^t

If A = 15000, then

15000 = 23000(0.92)^t

0.92^t = 15000/23000 = 0.6522

Taking log of both sides to base 10

Log 0.92^t = log 0.6522

tlog 0.92 = log 0.6522

- 0.036t = - 0.1856

t = - 0.1856/- 0.036

t = 5 years to the nearest year

v=23000(0.92)^3

Step-by-step explanation:

According to this website from a professional tutor, it should be the answer above.

https://www.wyzant.com/resources/answers/451719/a_cars_initial_value_is_23000_with_a_decreasing_value_of_8_each_year_what_is_the_initial_value_after_3_years

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