Question

PLEASE QUICK

The dollar value v(t) of a certain car model that is t years old is given by the following exponential function.
v (c) = 20,000(0.88)
Find the initial value of the car and the value after 11 years.
Round your answers to the nearest dollar as necessary.
Initial value:
Value after 11 years:

Answer 1

9514 1404 393

Answer:

• initial value: $20,000
• after 11 years: $4,902

Explanation:

Assuming your equation is ...

v(t) = 20,000(0.88^t)

The value for t=0 is 20,000.

The value for t=11 is 20,000(0.88^11) ≈ 4,902.

The initial value is $20,000; the value after 11 years is $4,902.