Question

A new toyota rav4 costs $23,500. the car's value depreciates linearly to $18,823 in three years time.1 write a formula which expresses its value, v, in terms of its age, t, in years.

Answer 1

For this case we must find a linear equation of the form:

`v = mt + b`

Where,

b: initial value of the car

m: decrease rate per year

t: number of years

v: value of the car

For the slope of the line we have:

`m = (v2-v1)/(t2-t1)`

`m = (18823-23500)/(3-0)`

`m = (-4677)/(3)`

`m = -1559`

The initial value of the car is:

`b = 23500`

So, replacing values we have:

`v = -1559t + 23500`

Answer:

a formula which expresses its value, v, in terms of its age, t, in years is:

`v = -1559t + 23500`